Colonial bank collapse?

Colonial Bank, a southern regional bank with about $20 billion in deposits is on the verge of failure. In granting a request made by Bank of America to freeze assets worth $1 billion, a federal judge on Thursday said Colonial is “on the brink of collapse” and is suspected of criminal accounting irregularities.
Colonial Bank was one of the primary lenders in the state of Florida during the recent building boom. With many mortgages and lenders depending upon the bank, the fall out would be huge. Colonial Bank has 355 branches throughout five states, Alabama, Florida, Georgia, Nevada, and Texas.
If Colonial bank does collapse, it would mark the 73rd bank failure this year, and it would also be one of the top 10 bank failures in U.S. history.
It’s important that consumers remember that the FDIC only insures up to $250,000 per person, for each account. Those with greater assets should diversify and make certain not to over extend themselves in one account. Should the bank fail, those insured should expect to receive reimbursement within several days.
While under an age of bank crashed keep happening, keeping money seems risk a lot, I prefer to spend them, anyway, I don’t have much.