I used to have a side gig as the CFO for a not-for-profit (an unpaid volunteer). Anyway, this organization was over 125 years old, associated with a larger organization 80 years older than that, and had the same primary bank for 70 years ... Anyway, my treasurer, who was very smart, insisted we keep enough cash to run for 3 months in a secondary bank. Just in case we were locked out of our primary bank.
Not quite the same scenario, but it makes me think of how a startup I know dodged a bullet with the Silicon Valley Bank collapse [0] partly due to having some other money elsewhere Just In Case. (But in a major part due to bailouts, of course.)
