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MidFirst Bank is an American bank based in Oklahoma City, Oklahoma. As of 2023 [update] , it was the largest privately owned bank in the United States, with $39.1 billion in assets. [ 3 ]
FDIC insurance covers up to $250,000 on individual deposit accounts in the event that the bank fails. That’s why many people prefer to keep their bank account balances under $250,000 .
The standard deposit insurance coverage limit, as offered at banks that are members of the Federal Deposit Insurance Corp. (FDIC), is $250,000 per depositor, per bank, per ownership category.
In the second quarter of 2024, there were 3,985 commercial banks and 554 savings and loan associations in the U.S. insured by the Federal Deposit Insurance Corporation (FDIC) with US$23.9 trillion in assets. [1]
The FDIC's standard insurance covers up to $250,000 per depositor, per bank, for every account ownership category.
On average, between 1980 and 1994, a US bank failed every three days. The pace of bankruptcies peaked immediately after the 2008 financial crisis. [1] The 2008 financial crisis led to many bank failures in the United States. The Federal Deposit Insurance Corporation (FDIC) closed 465 failed banks from 2008 to 2012. [2]