It is hard to believe that at this point anyone who has the ability to accumulate, or simply hang on to, more than $250,000 in cash would leave it at one bank.
Hello, the FDIC insurance covers deposits up to $250,000! If you have more than that at one bank, move it to ANY bank you can think of! Even Citibank!
At the Bank of Clark County in Vancouver, WA, which failed last week,138 accounts exceeded the FDIC limit for total combined losses of $39,300,000. With the bank's total deposits at $366,500,000, that's 10.7% of all deposits uninsured.
