FDIC definition
Examples of FDIC in a sentence
The deposit accounts of each Subsidiary of the Company that is an insured depository institution are insured by the FDIC through the Deposit Insurance Fund (as defined in Section 3(y) of the Federal Deposit Insurance Act of 1950) to the fullest extent permitted by Law, all premiums and assessments required to be paid in connection therewith have been paid when due, and no proceedings for the termination of such insurance are pending or to the Knowledge of the Company threatened.
The Bank is engaged in the operation of an FDIC insured depository institution with headquarters in Fairfax, Virginia, serving the Washington D.C. Metropolitan area.
The Executive’s duties, responsibilities and authority as Executive Vice President and Chief Financial Officer of the Bank shall be commensurate with those normally undertaken by executive vice presidents and chief financial officers of FDIC insured depository institutions similar to the Bank in nature and size at the time the Executive exercises such duties, responsibilities or authority.