For deposit insurance limits, are accounts cross-collateralized?

The FDIC deposit insurance limit is $250,000 per depositor.

Let’s say I have $350,000 in my savings account and a loan with an outstanding principal of $200,000. The accounts are with the same bank.

If the bank folds, and depositors need to seek relief from the FDIC, what is my total balance afterward? Do I lose the excess $100,000 in my savings account, and I still owe $200,000 on the loan? Or is the excess deducted from the loan, so I end up with $250,000 in savings and $100,000 left on the loan?