Deposits

The Pittsburgh bank grew its deposits in the first quarter, even as the failure of two other regionals sparked outflows across the industry. But PNC executives warned Friday that rising funding costs could continue to eat into its net interest margin.

The lender had $2.38 trillion of deposits at the end of March, compared with $2.34 trillion three months earlier. The influx more than offset drains from inflation and customers' seeking higher-yielding alternatives.

A former Citigroup CEO argues that effective federal guarantees on all bank deposits should be formalized, severing the connection between deposit-taking and lending.

IntraFi, R&T Deposit Solutions and other companies help banks capture and insure the entirety of their customers' balances — a cogent need in the aftermath of SVB.

In its first three months as a bank, the Boca Raton, Florida-based NewtekOne doubled the size of its deposit base by relying almost exclusively on certificates.

Since 2011, and in ever-growing volume, credit unions have been buying community banks. Some see it as the free market at work while bankers say this is another example of credit unions' unfair advantage.

After experiencing deposit growth above 11% in 2021, credit unions saw that figure drop to 3% last year. But some CEOs say funds are flowing in again in the wake of recent bank failures.

Unrealized losses on the company's balance sheet ballooned to more than $29 billion last year. At the same time, higher interest rates are encouraging customers to move their cash out of certain accounts that underpin Schwab's business.

Net interest margin, a key earnings metric, had been rising across the industry in recent quarters. Now it could suffer at the megabanks that have gained customers amid the turmoil of the last two weeks.