{"id":13465,"date":"2023-04-26T13:17:36","date_gmt":"2023-04-26T13:17:36","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/factbox-deposit-flight-from-u-s\/"},"modified":"2023-04-26T13:18:34","modified_gmt":"2023-04-26T13:18:34","slug":"factbox-us-banks-hit-by","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/factbox-us-banks-hit-by\/","title":{"rendered":"Factbox-US banks hit by deposit flight as clients seek higher returns"},"content":{"rendered":"

(Reuters) – The closure of two U.S. regional banks in March shook investor confidence in the banking industry and drove spooked customers to seek refuge in “too-big-to-fail” institutions or money market funds for higher yields. <\/p>\n

First Republic Bank said on Monday deposits plunged by more than $100 billion in the first quarter and it was exploring options such as restructuring its balance sheet.<\/p>\n

Total deposits at Wall Street’s biggest lenders: <\/p>\n

Big Banks Reported Q1 Deposits vs Q4 <\/p>\n

JPMorgan Chase and Co Total deposits increased 2% to $2.38 <\/p>\n

trillion <\/p>\n

Bank of America Corp Total deposits declined 1% to $1.91 <\/p>\n

trillion <\/p>\n

Citigroup Inc Total deposits declined 3% to $1.33 <\/p>\n

trillion <\/p>\n

Wells Fargo & Co Total deposits declined 2% to $1.36 <\/p>\n

trillion <\/p>\n

Goldman Sachs Group Inc Total deposits declined 3% to $375 <\/p>\n

billion <\/p>\n

Morgan Stanley Total deposits declined 3% to $347.5 <\/p>\n

billion <\/p>\n

Overview of deposits at other prominent financial firms:<\/p>\n

Mid-Sized Firms Reported Q1 Deposits vs Q4 <\/p>\n

First Republic Bank Reported deposit <\/p>\n

outflows of more than $100 <\/p>\n

billion, excluding $30 billion <\/p>\n

injected by big banks <\/p>\n

PacWest Bancorp Deposits <\/p>\n

fell <\/p>\n

nearly 17% to <\/p>\n

$28.19 billion <\/p>\n

\n

Charles Schwab Corp Deposits shrank 11% to $325.7 <\/p>\n

billion <\/p>\n

M&T Bank Corp Total deposits fell nearly 3% <\/p>\n

to $159.1 billion <\/p>\n

State Street Corp Deposits at State Street fell <\/p>\n

3% to $210 billion <\/p>\n

Bank of New York Mellon Corp Average deposits fell 3% to <\/p>\n

$274 billion <\/p>\n

Citizens Financial Group Inc Average deposits fell 2.6% to <\/p>\n

$174.4 billion <\/p>\n

Western Alliance Bancorp Total deposits fell 11.3% to <\/p>\n

$47.6 billion <\/p>\n

PNC Financial Services Group Total deposits rose marginally <\/p>\n

Inc to $436.8 billion <\/p>\n

First Horizon Corp Total deposits declined 3% to <\/p>\n

$61.4 billion <\/p>\n

U.S. Bancorp Average total deposits <\/p>\n

increased 5.9% to $510.32 <\/p>\n

billion <\/p>\n

Zions Bancorporation Total deposits declined 3% to <\/p>\n

$69.2 billion <\/p>\n

Fifth Third Bancorp Total average deposits were <\/p>\n

down marginally at $160.65 <\/p>\n

billion <\/p>\n

Comerica Inc Average deposits fell about 5% <\/p>\n

to $67.8 billion <\/p>\n

Truist Financial Corp Average deposits dropped 1.2% <\/p>\n

$408.5 billion <\/p>\n

KeyCorp Average deposits fell about <\/p>\n

1.6% to $143.4 billion <\/p>\n

Huntington Bancshares Inc Average total deposits <\/p>\n

increased by $472 million <\/p>\n

Source: Company statements<\/p>\n

\n

(Compiled by Mehnaz Yasmin and Manya Saini in Bengaluru; Edited by Shounak Dasgupta and Shinjini Ganguli)<\/p>\n

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(Reuters) – The closure of two U.S. regional banks in March shook investor confidence in the banking industry and drove spooked customers to seek refuge in “too-big-to-fail” institutions or money market funds for higher yields. First Republic Bank said on Monday deposits plunged by more than $100 billion in the first quarter and it was […]<\/p>\n","protected":false},"author":8,"featured_media":13466,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[1223],"class_list":["post-13465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3G0MG-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/13465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=13465"}],"version-history":[{"count":4,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/13465\/revisions"}],"predecessor-version":[{"id":24534,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/13465\/revisions\/24534"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/13466"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=13465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=13465"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=13465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}