Depositors tend to pay more attention to banks that manipulate their earnings, leading to higher deposit rates. During a financial crisis, depositors are less vigilant, possibly due to government intervention, but become more watchful afterward. Large banks are perceived as "too-big-to-fail" by depositors, but this perception changes post-crisis. Insured depositors monitor banks more closely than uninsured depositors during crises, indicating that deposit insurance may not always be reliable. After a crisis, insured depositors increase their monitoring efforts more than uninsured depositors. These findings are important for regulators and policymakers aiming to strengthen market discipline.