Two banks collapsed just days apart and now some people are worried about what it's going to mean for their bank and their money.

This is the second-largest banking failure in the U.S., but experts say people shouldn't panic. Silicon Valley Bank is a bank that mostly has start-ups, technology firms, and wealthy clients and it collapsed over the weekend. That led Signature Bank customers in New York to withdraw billions of dollars, which caused that bank to also fail, leading to the largest failure of banks we've seen in the U.S. since 2008.

Certified public accountant, and financial planner, Paul Hood, says the average person should not be concerned with any of this.

"It should not have a major impact on our general banking system. The only thing that could impact it is people's emotions and going out and getting in line trying to pull their cash out the bank and that could be a problem," Hood says.

President Biden told the American people the country's American banking system is safe.

"Today, thanks to the quick action of my administration over the past few days, Americans can have confidence that the banking system is safe. Your deposits will be there when you need them. Small businesses across the country that deposit accounts at these banks can breathe easier knowing they'll be able to pay their workers and pay their bills," Biden said.

Experts say the ripple effects of the bank failure could come if people make a run on their banks which means lots of people all withdrawing their money at the same time.

"The federal government is going to stop that which may create a little bit more fear, but it should have zero impact on what we're doing here locally," Hood says.

Experts say the best thing to do is to not panic and there is no need to start taking large amounts of money out of the bank.