these are like regional private banks where majority of deposits per account are in the millions and billions, way above the fdic insured amount of $250k per depositor. they reinvest clients’ deposits on gov bonds, securities, and treasuries where they are deemed to be super safe and conservative. because of persistent rate hikes by the federal reserve, these super safe bonds and treasuries can’t compete in value with other investments anymore, including some long term big bank fixed or cash deposits offering higher yields. thus the double whammy of less new deposits and more withdrawals of old deposits. the combined stupidity of the fed and gov is at the root of this fiasco. and they’re hurting their own billionaire contributors and supporters. but of course, “bailout” is in store.