FRB expanded their business by catering to the HENRY population (high earner, not rich yet). So they've got a lot more customers now with medium-large deposits

FRB expanded their business by catering to the HENRY population (high earner, not rich yet). So they've got a lot more customers now with medium-large deposits. This should actually make them less vulnerable to bank runs. Some techie with $40k in their account is well protected by FDIC.