Home News Business Brookline Bank To Stop Insuring Deposits Over $250K

Brookline Bank To Stop Insuring Deposits Over $250K

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FDIC

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.