When two insured banks merge, deposits from the assumed bank are separately insured from deposits at the assuming bank
for at least six months after the merger. This grace period gives a depositor the opportunity to restructure his or her
accounts, if necessary.
Certificates of Deposit (CDs) from Elsa State Bank are separately insured until the earliest maturity date after the end
of the six-month grace period. CDs that mature during the six-month period and are renewed for the same term and in the
same dollar amount (either with or without accrued interest) continue to be separately insured until the first maturity
date after the six-month period.
If a CD matures during the six-month grace period and is renewed on any other basis, it would be separately insured only
until the end of the six month grace period.