It is also amazing that is you look at the deposit numbers, almost none of the FDIC protected money moved, whereas almost all of the non-FDIC money went elsewhere.
Maybe they erred in allowing all that FDIC uninsured money, but somebody would have to!
Sounds like the people that could, stayed, while the ones who couldn't take the risk left. I'm a FR client and kept my money in because I'm under the limit. I wouldn't blame anyone who was over the limit for leaving.
FDIC is not a "Limit up to $250k", it's "At least $250k", and the FDIC has in all cases made accountholders whole even past $250k.
That is an unreasonable assumption for a company that has their payroll in an account for instance. It would be idiotic not to move it.