Despite the temporary increase of the FDIC's basic individual deposit insurance limit to $250,000 and waiver of limits on insurance coverage for non-interest-bearing checking accounts until the end of 2009, BankUnited reported $2.7 billion in uninsured deposits on its Dec. 31 Thrift Financial Report filed with the OTS.
While the data is over three months old, BankUnited's level of reported uninsured deposits was very high as of Dec. 31, considering the institution's condition. This is another instance pointing to the need for depositors to monitor the health of their financial institutions.
Another thing to consider is that even if your personal deposits are under FDIC insurance limits, you or someone you know are probably associated with a business, organization or government entity (such as a school district) with large deposits of somebody else's money in a local bank.
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