Is my money insured by the FDIC?

Yes, your money is insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects depositors' funds up to the maximum allowed by law. This means that if Bank of Galveston were to fail, your deposits would be covered up to $250,000 per depositor. The FDIC provides this insurance coverage for deposits made in banks and savings associations that are members of the FDIC. It is important to note that the FDIC only covers deposits such as checking accounts, savings accounts, certificates of deposit (CDs), and money market accounts. It does not cover other types of investments, such as stocks, bonds, or mutual funds. Rest assured that your funds held at Bank of Galveston are secure and protected by the FDIC.