FDIC Notice - Bank of Hawaii (2024)

FAQs

Is Bank of Hawaii insured by FDIC? ›

As a Member FDIC financial institution, deposit accounts with Bank of Hawaii are protected with Basic FDIC insurance coverage up to $250,000 (checking, savings, certificates of deposit, and money market accounts).

Bank of Hawaii is one of America's most trustworthy banks as recognized by Newsweek for the third consecutive year. You can rest easy knowing Bank of Hawaii has the experience and expertise to protect your hard-earned money.

To determine your deposit insurance coverage or ask any other specific deposit insurance questions, please visit the FDIC Information and Support Center or call 1-877-ASK-FDIC (1-877-275-3342).

An account that contains more than $250,000 at one bank, or multiple accounts with the same owner or owners, is insured only up to $250,000. The protection does not come from taxes or congressional funding. Instead, banks pay into the insurance system, and the insurance provides their customers with protection.

The credit ratings confirmation and Stable trend reflect BOH's strong banking franchise that is underpinned by a deeply entrenched presence within the Hawaiian islands. In addition, the Company consistently generates strong financial results, while sustaining sound balance sheet fundamentals.

A: Yes. The FDIC insures deposits according to the ownership category in which the funds are insured and how the accounts are titled. The standard deposit insurance coverage limit is $250,000 per depositor, per FDIC-insured bank, per ownership category.

Moody's Investors Service: affirmed our Aa2 “Bank Deposit Long-Term Rating,” placing BOH among the top 6 financial institutions in the U.S., and the highest in Hawaii; and. rated BOH with an A1 “Baseline Credit Assessment,” placing us among the top 2 institutions in the U.S.

In the banking industry category, Bank of Hawaii ranks No. 4 nationwide. Newsweek partnered with Statista, a statistics database and consumer research firm, to compile its second annual list of Most Trustworthy Companies in America.

JPMorgan Chase, the financial institution that owns Chase Bank, topped our experts' list because it's designated as the world's most systemically important bank on the 2023 G-SIB list. This designation means it has the highest loss absorbency requirements of any bank, providing more protection against financial crisis.

Millionaires can insure their money by depositing funds in FDIC-insured accounts, NCUA-insured accounts, through IntraFi Network Deposits, or through cash management accounts. They may also allocate some of their cash to low-risk investments, such as Treasury securities or government bonds.

What bank is not insured by the FDIC? ›

It is rare for a bank not to have FDIC insurance, but there are exceptions. Bank of North Dakota, for example, is not FDIC-insured. Instead, it is backed by the full faith and credit of the State of North Dakota.

It indicates an expandable section or menu, or sometimes previous / next navigation options. Your money is safe in a bank, even during an economic decline like a recession. Up to $250,000 per depositor, per account ownership category, is protected by the FDIC or NCUA at a federally insured financial institution.

Of all the financial institutions reporting, including commercial banks and federal savings banks, there are approximately 860 million deposit accounts (not including retirement accounts). But fewer than one percent–just 0.83 percent–of these accounts have more than $250,000.

Note on Beneficiaries: While some self-directed retirement Accounts, like IRAs, permit the owner to name one or more beneficiaries, the existence of beneficiaries does not increase the available insurance coverage.

affirmed our Aa2 “Bank Deposit Long-Term Rating,” placing BOH among the top 6 financial institutions in the U.S., and the highest in Hawaii; and. rated BOH with an A1 “Baseline Credit Assessment,” placing us among the top 2 institutions in the U.S.

We help you keep your long-term goals within reach

Plan for your future with competitive rates and maximum Federal Deposit Insurance (FDIC) coverage. Hawaii National Bank offers both Traditional IRA and Roth IRA accounts.