Brookline Bank has grown too big to be in a Massachusetts program that insures all deposits made by a bank’s customers, no matter how high the amount. The bank’s deposits remain FDIC-insured.
Most banks in Massachusetts insure all deposits. Most banks in the U.S. insure deposits up to $250,000 through the FDIC.
Soon, Brookline will leave the first group for the second. It is only the fourth time in the insurance fund’s 85-year history that a bank has left the program.