Most of the 450 banks that failed 2009-2012 were immediately sold to other banks. This typically happened on Friday with FDIC clerks working all weekend to reco

Most of the 450 banks that failed 2009-2012 were immediately sold to other banks. This typically happened on Friday with FDIC clerks working all weekend to record the books and start merging computers. Typically your money was available the following Monday. And depositors were not aware of the what happened until they saw the bank name change. And usually amounts over $250K were still good in this process. A small number of banks could not attract buyers, so the FDIC fowarded your deposit to an account you specified. I recalled that may have taken a few weeks. Very few over $250K accounts were dinged. One of the TV new magazines followed the FDIC on one of these Friday missions. That was good publicity to calm the public. I recall at the height there could have been a FDIC personal crunch. It took a few weeks to complete the transfer process and I think they only had a dozen teams or so.