BiggerPockets Founder · HI · Member since 2008 · 16k+ posts · 5k+ votes
News broke early this morning that the FDIC took over 1st National Bank of Nevada and First Heritage Bank, closing 28 branches. The closures follow the recent demise of IndyMac bank several weeks ago, and are another sign of things to come.
God I hope people know that you should not keep over $100k in a bank. A few months ago I opened a few more accounts at other banks. My bank was like "Oh don't worry we're ok" Yeah sure clowns. I heard the Feds are tracking like 95 potential failing banks.
Kinda of ticks me just to see those hard workers in line waiting hoping they can see their money. When IndyMac failed they gave a heads up. I think a few billion got withdrawn before the FDIC took over. No doubt it was the big fishes.
Yes, Personal and the company are separate and are insured separately. They told me about a trust and other crap with no interest payment if I remember correctly. It was just easier to open other accounts.