Of course! Why wouldn't they be insured? I've banked with state banks many times, over the years. I've often wondered why Frost wasn't a state bank. They really push the fact that they are a Texas bank and use the Texas theme in much of their advertising.
well i was wondering if they would be as they will not have the national charter. and state banks are not subject to the same stringent regs as nationally supervised banks. One could draw the conclusion that if not supervised by the FDIC, OFEO etc the FIDC, OFEO etc would not insure the deposits. Of course that is why cfr is abandoning the national charter. ps I never have deposited money with a state chartered bank and most likely never will.
The deposits are absolutely guaranteed by FDIC. There are stringent regulations with state banks also. CFR will be audited just like now but by state auditors. They did not take TARP money and shouldn't have to pay for the failure of the big banks that "are too big to fail". I own the stock and have confidence in this bank.