SAN FRANCISCO - A stock analyst here is expressing alarm over what he sees as a disturbing flow of deposits from the big three banking companies in California to the state's biggest thrifts.

James Marks, with Hancock Institutional Equity Services, figures that domestic deposits at the end of March at BankAmerica Corp., First Interstate Bancorp, and Wells Fargo & Co. were 6.1% to 10.2% below the level tallied a year earlier, if bank acquisitions and branch sales are excluded.

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