Deposits

Firms that had ratings cut included M&T Bank, Webster Financial, BOK Financial, Old National Bancorp, Pinnacle Financial Partners and Fulton Financial.

Banks locked in funding by offering more enticing rates on certificates of deposit last quarter, but rebuilding liquidity came at a cost. Competition isn't dying down either, with a couple of credit unions floating 6% CD rates.

The Hicksville, New York, company says its deposit base is stable and poised for growth four months after its acquisition of the failed Signature Bank, some of whose depositors fled to larger banks. Private bankers — including new hires from another failed bank, First Republic — are trying to win back lost deposits.

The European Central Bank will stop paying banks for the money they are required to keep at the institution as a minimum reserve, a surprise move that could cut billions from lenders' interest income. 

BMO Financial Group will enable payments, hold deposits and more for Grounded Technologies, a company that sources funding for banks from a diverse mix of asset managers.

American Banker's annual list reviews the financial results for the best-performing large institutions.

Stock prices of banks on this annual list of top performers with at least $50 billion of assets have fallen with the rest of the industry's shares. Executives say their strong fundamentals will win over doubters.

The Dallas-based company, which saw $3.7 billion of deposits withdrawn after Silicon Valley Bank failed, now predicts average deposits will fall 14% to 15% compared with last year. However, the pace of outflow is slowing, say the bank's executives.

Some credit unions and banks are taking a step back from the U.S. auto lending market, but Ally CEO Jeffrey Brown said the overall sector remains healthy. Though credit is weakening, the loans that the company is making are bringing large returns.

The nation's second-largest bank has weathered the Federal Reserve's rate hikes better than many others, but it's still at the central bank's mercy as deposit pressures continue.