Is my money safe? What you need to know about bank failures

Recent turmoil in the banking industry may have you worried about your money.

Shares of PacWest, a small regional bank based in Los Angeles, plunged almost 40% Thursday after the company confirmed it may put itself up for sale. Anxiety over potential bank runs has sent shares of smaller banks tumbling. A bank run is when large numbers of people withdraw their money from a bank all at once.

Since March, three regional banks have failed — Silicon Valley Bank, Signature Bank, and First Republic Bank.

If the recent bank collapses have you worried about the safety of your money, here's what you need to know:

IS MY MONEY SAFE?

Yes, if your money is in a U.S. bank insured by the Federal Deposit Insurance Corp. and you have less than $250,000 there. If the bank fails, you'll get your money back.

Nearly all banks are FDIC insured. You can look for the FDIC logo at bank teller windows or at the entrance to your bank branch.

Credit unions are insured by the National Credit Union Administration.

If you have over $250,000 in individual accounts at one bank, which most people don't, the amount over $250,000 is considered uninsured and experts recommend that you move the remainder of your money to a different financial institution, said Caleb Silver, editor in chief of Investopedia, a financial media website.