With IndyMac going under (the second biggest U.S. bank failure to date) and Fannie Mae and Freddie Mac essentially doing the same, several have asked how to determine how safe is a person's own bank.
For starters, the Federal Deposit Insurance Corporation (FDIC) provides some level of protection for deposits up to 100k. However, if they have to get to that point, troubles may delay receiving your funds.
So, instead of being reactive, try a little proactiveness.
This website has analyzed and graded most U.S. banks. In the industry, it is considered a very reliable source.
Check it out and learn how much comfort/discomfort you should feel toward your bank.
For instance, we bank with three banks here in Montgomery. One had three stars, one had one star, and the third had five stars.
Since more stars is better, guess what I'll be doing soon...