Oxford Bank Announces Participation in FDIC Transaction Account Guarantee Program

OXFORD, Mich., Dec. 18  /PRNewswire-FirstCall/ -- Oxford Bank, a subsidiary of Oxford Bank Corporation (OTC:OXBC) (BULLETIN BOARD: OXBC) , today announced that it is participating in the Transaction Account Guarantee Program (TAGP), which is a part of the Federal Deposit Insurance Corporation's (FDIC) Temporary Liquidity Guarantee Program (TLGP).  The TLGP was originally adopted by the FDIC on October 13, 2008 with the goal of strengthening liquidity in the banking system.  This industry-funded program does not rely on the taxpayer or the deposit insurance fund.  Additional information about the TLGP is available on the FDIC website at http://www.fdic.gov/tlgp.

Under the TAGP, funds in non-interest bearing transaction accounts at Oxford Bank will be fully guaranteed by the FDIC through December 31, 2009. Also included are Negotiable Order of Withdrawal (NOW) transaction accounts that earn interest at a rate of 0.50% or less.  This coverage is in addition to the FDIC's general deposit account insurance, which was temporarily increased from $100,000 to $250,000 per depositor on October 3, 2008 as a part of the Emergency Economic Stabilization Act of 2008.  The basic insurance limit will return to $100,000 also on December 31, 2009.

Jeffrey M. Davidson, chairman, president, and chief executive officer of the Corporation, issued the results and commented, "I'm excited to announce Oxford Bank's participation in the Transaction Account Guarantee Program.  As an independent community bank with nearly 125 years of experience, Oxford Bank fully understands the importance of providing its customers with additional assurance during difficult times."

Oxford Bank Corporation is a registered holding company.  Its subsidiary, Oxford Bank, is the oldest commercial bank in Oakland County and operates eight full-service offices in Clarkston, Davison, Dryden, Goodrich, Lake Orion, Oakland Township, Ortonville and Oxford.  It also manages a consumer lending center in Oxford and a commercial lending office in Lake Orion.  The Bank has operated continuously under local ownership and management since it first opened for business in 1884.  For more information about Oxford Bank and its complete line of financial services, please visit http://www.oxfordbank.com/. 

DATASOURCE: Oxford Bank Corporation



CONTACT:  Anthony P. Lasher, Oxford Bank Corporation, [phone], or

Fax, [phone]



Web site:  http://www.oxfordbank.com/

http://www.fdic.gov/tlgp 

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