News & Insights

Uninsured deposits are risky for both banks and their customers. That was never more apparent than last spring when Silicon Valley Bank (SVB) failed after depositors pulled $42 billion over a few hours. That day – March 10, 2023 – prompted many companies nationwide to question whether their bank deposits were safe. “Up to that point, we didn’t pay much attention” to deposit insurance, recalled John Clark, the president and CEO of Masterclock, a global manufacturer of accurate time and frequency products based in St. Charles, Missouri. “You assume that by putting money in the bank, you are protecting it, but SVB proved that’s not always the case.”

Speaking on IntraFi’s Banking with Interest podcast, Emmer defended a recently renewed push from congressional Republicans to ban the Federal Reserve from creating a digital currency. Officials including Chair Jay Powell have said repeatedly that the U.S. central bank would wait for congressional authorization. Emmer’s not buying it, telling IntraFi’s Rob Blackwell: “There was a presentation at the beginning of this Congress by the Fed for staff where they showed what their primary responsibilities were, and I think there were four or five of them. Number five was a central bank digital currency."

When the banking system seems shaky, people and organizations start questioning how safe their deposits truly are. This was never more true than last year when Silicon Valley Bank abruptly collapsed, leaving depositors to wonder when or if they’d get access to their money. “You cannot un-live SVB. There were two weeks there when I wasn’t sure if I was going to lose my company,” recalls Russell Franks, co-founder and president of PredictAP, a fin-tech start-up in Boston. “We were a customer of SVB and lost access to our money.”

The squeeze on interest rate margins and the fierce competition for deposits are the biggest issues facing bankers right now, according to a survey released Tuesday of more than 500 institutions.

Many of us can remember a panicky moment when we wondered if our bank deposits were safe. For lots of people, that day came last spring when Silicon Valley Bank collapsed, leaving $150 billion of deposits uninsured and in danger. Others might have had this wake-up call during the 2008 financial crisis when truly nothing seemed normal.

Whether you run a business, a nonprofit or even a town or a city, you want confidence that your bank deposits are safe. What if you could get that certainty with a simple product that pays a competitive rate and keeps the funds both liquid and local? It’s not too good to be true. Three thousand banks, including American National Bank, belong to a network created by IntraFi to provide this protection through reciprocal deposit products.

Following the failures of Silicon Valley Bank, Signature Bank and others, the general public started paying closer attention to uninsured deposits, said Scott Wylie, CEO and chairman of Denver-based First Western Trust. It has since become even more important to provide a sense of security to the customer that the same can't and won't happen to Colorado banks.

As treasurer of the Jackson Hole Children’s Museum, Brendan McDermott has three priorities: keep the nonprofit’s money safe, keep it liquid and make sure it earns a good return. Federal deposit insurance only covers the first $250,000, and the museum could open accounts at multiple banks to expand its coverage.

Safeguarding your company’s payroll—or your nonprofit’s donations or your town’s tax revenue—is table stakes for CFOs. But you can access insurance on larger deposits while also ensuring the money is reinvested locally, creating jobs and fueling the economy.

Recent bank failures have highlighted the importance of deposit insurance. The FDIC insures deposits up to $250,000 at FDIC-insured banks. IntraFi provides reciprocal deposit solutions that enable customers to access insurance on deposit balances greater than $250,000. Increased deposit insurance allows community banks to grow and retain more deposits, expanding community lending opportunities.

Forthcoming heightened capital requirements for large banks should benefit community and regional banks more than fintechs.

The prospect that interest rates won't fall until late next year — or even 2025 — may be dampening bankers' expectations about loan growth.

Following the failures of Silicon Valley Bank and Signature Bank, community banks look to alternative deposit insurance options.

Many community bankers aren't buying the narrative that the United States will avoid a recession, according to a new survey from IntraFi.

Thanks to overwhelmingly positive employee feedback, the Washington Post once again included IntraFi on its annual list of top midsize companies to work for in the D.C. area.

For the fifth year running, American Banker included IntraFi in its list of 50 Best Places to Work in Fintech.

Most community banks experienced little residual fallout from the failures of Silicon Valley Bank and Signature Bank, according to a new survey released today by fintech IntraFi.

BankBeat summarizes findings from IntraFi's recent Bank Executive Business Outlook Survey, where 77 percent of executives surveyed said they saw no significant shifts in deposits following the failures of SVB and Signature Bank.

“If your business’s deposits far exceed the $250,000 cap, consider a bank that …offers two key services: ICS and CDARS,” suggests NerdWallet.

Business Insider examines a variety of ways depositors can protect their funds, including banking with institutions in the IntraFi network.

IntraFi's latest bank executive survey confirms the failure of Silicon Valley Bank generated widespread worries, but little deposit outflow, reports American Banker.

American Banker looks at the heightened interest in enhanced FDIC in the wake of the SVB and Signature Bank failures.

The New York Times examines a variety of options - including banking with a IntraFi network bank - entrepreneurs can consider to safeguard their money.

Following the SVB and Signatures failures, CNBC offers an overview of steps depositors can take to make sure their cash holdings are covered by FDIC insurance.

Bloomberg looks at some little-used tools corporate treasury execs can set up to effectively manage cash reserves and maximize FDIC insurance using IntraFi more efficiently.

The New York Times looks at how small and midsize banks fared following the collapse of SVB, and how IntraFi helped soothe depositor anxiety.

The Voice of America looks at the history of The Federal Deposit Insurance Corp. and the role it plays in securing the U.S. banking system.