"It's not like the entire industry is on its deathbed," McBride says.
Still, your best defense is FDIC insurance.
The standard coverage has been temporarily increased to $250,000 per depositor through 2013, although you can have much more depending on how accounts are titled. For instance, your savings account is insured up to $250,000, but if you also have a joint account with a child or spouse, that account also is covered up to $250,000 per co-owner or $500,000.
Coverage can be a bit complicated, so check out the Electronic Deposit Insurance Estimator on the FDIC's Web site or call 877-275-3342 to make sure you are fully protected. Some products purchased at banks, such as mutual funds or annuities, are not covered by FDIC insurance.
Credit unions offer similar coverage, and you can see if you're fully covered by using the National Credit Union Administration online calculator at www.ncua.gov.
Meanwhile, be prepared for more bad headlines. Consultant Ely says we're on target to see 130 bank failures this year, and "we are going to have a high rate of failures into the next year."
