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It happened to me a long time ago.

"The bank "failed", it was announced, over the weekend,and opened Monday mornging as a subsidiary of the bank that had taken it over.

The FDIC had been orchestrating the thing for some time.
Even if they do end up owning the bank for awhile, the'll end up selling it to some other bank in a very short period of time.

Sometimes they sell "selected assets" to the new bank, which agrees to assume the liability for deposits. And the FDIC ends up holding the REALLY BAD loans."


Thanks Bill,

So, there's really not anything to worry about if your deposits are under the FDIC amounts for regular and retirement accounts. You wake up one morning and everything is the same except the name of your bank.
That's good to know. It would almost have to be that way to keep depositors confident and thus preventing runs.
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