As mentioned in another thread, $250k is a minimum.
The FDIC guarantees $250k which is covered by fees paid by the banks. Above and beyond that they will pay out depositors first by selling the bank’s assets, which they took over on Friday.
In this case, FDIC is saying they will make depositors whole. They’ll do so by covering it with FDIC funds which they’ll recoup by selling assets and charging other banks if there’s a shortfall.
