U.S. banks have collected a record $7.5 trillion in deposits as customers feel reassured by government support. But the largest banks are also watching in frustration as longtime clients spread their business — and their deposits — among multiple banks.

Consider Ted Feight, who plans to move most of his business away from what was once National City Corp., which PNC Financial Services Group Inc. bought in December, after doing business with the Cleveland banking company for 25 years.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.