What's going on with banks changing hands so much?


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One of the local banks has changed it name like four times in the last 2 years. They went from Northeast Savings, to Shawmut to some company that had a blue clipper ship for a logo (I can't remember the name right now) to the current company. Doesn't make one feel too secure in doing business with them....


Answer (1):

 
Leila24

It looks like the banks are too small so other banks keep buying them out. No you shouldn't be insecured b/c as long as you have less then $100,000 in your account then you are FDIC insured and whatever bank buys them out has to be FDIC insured.