Tip: Will FDIC cover your deposits?

More than 320 banks have failed since 2009. Nearly 900 more are on the FDIC's "Problem Bank List" because they may have solvency issues. (The FDIC does not release the names of the banks on its list.)

When a bank fails, everyone with deposits covered by FDIC insurance is made whole immediately. But those whose deposits exceed insurance limits may lose money if the FDIC can't find a buyer for the bank. Basic FDIC insurance covers $250,000 in deposits for a single account per institution. But it gets a bit tricky if you have more than one account type at a single institution or if you also have joint or payable-on-death accounts.

The FDIC has rolled out a new online calculator that will tell you how much of your deposits are covered and the amounts, if any, that exceed coverage limits. Go to www.fdic.gov/edie/index.html.