OK, a.net financial experts.
As I understand it, insured deposits at FDIC member banks are insured up to $250,000 per depositor, per institution. So if I put $500,000 into a savings account at Bank of America ('cause investment-wise, that's the right thing to do with $500,000), only $250,000 of it will be insured. And if I think I'm being so smart by opening a checking account at BofA and putting $250,000 in there, or into a BofA CD, then I would in fact be wrong about that smartitude, because the $250K cap applies to all deposits I have at that institution. So I would show marginally more smartitude by putting that other $250K into a account at First Niagara.
Now, what about banks with subsidiaries? If I put $250K into an account at Bank of Albuquerque, and the other $250K into an account at Bank of Oklahoma, are both deposits insured (even though Bank of Albuquerque is owned by BOK)?
Same question would apply about different subsidiaries of the same parent company, e.g. First Nat'l Bank of Colorado and First Nat'l Bank of Kansas; both of which are owned by the First National Bank of Nebraska