Deposits

Smaller regional banks kept funding costs in check and relied on robust noninterest income to earn their spot as a 10 top-performing bank on American Banker's annual ranking.

In June's roundup of American Banker's favorite stories: Attempts to steal consumer data target a growing number of banks, credit unions secure deposits outflowing from other financial institutions, Citizens recruits 50 former private banking employees of First Republic and more.

Banks are simultaneously looking to shed their obligations under laws like the Community Reinvestment Act and begging the government for more support in the form of higher deposit insurance limits.

The Fed's aggressive tightening has been a boon for money markets, which have drawn investors seeking a haven from volatility and tiring of the skimpy rates on bank accounts.

Data from recent bank failures suggests that prevailing assumptions about which deposits are the most volatile could be dangerously flawed.

In a new survey, 38% of treasurers said they want to bump up their allocation to money market funds. Only 27% were looking to increase their bank deposits, highlighting the pressures the industry faces as it strives to hold onto customers' cash.

Both regional banks announced weaker guidance for net interest income than they had foreseen two months ago. The disclosures highlighted pressures that figure to take up a lot of the oxygen during second-quarter earnings season.

CEO Curtis Farmer said the warehouse sector, where Comerica provides lines of credit to mortgage banking companies, has not been providing much help as the company seeks to bolster deposits.

Financial institutions that received funding from the Emergency Capital Investment Program grew their loans by 35% between 2021 and 2022, according to new research. Now leaders at those institutions are turning their attention to the need for patient deposits.

Citigroup, Bank of America, Wells Fargo and KeyCorp are part of a coalition that last year pledged to move $1 billion of deposits to minority depository institutions and community development financial institutions. On Thursday, organizers announced that the group has reached its goal.

Cogent Bank in Orlando says it took two branches in the Southwestern part of the state less than three years to amass $400 million of deposits.

U.S. banks lost 2.5% of their deposits during the first quarter while credit unions saw a 2.1% quarterly increase, according to an S&P Global Market Intelligence analysis. Aggressive marketing — and credit unions' relatively untarnished reputations — helped motivate the shift.

Nearly two out of three finance chiefs surveyed by Piper Sandler said they were most worried about deposit costs in the aftermath of recent bank closures. Only 7% cited credit quality as their top reason for unease.

Banks across the country have had deposit guarantees since 1998. By extending this to credit unions, Ukraine can provide economic stability while also improving its chances of joining the European Union.

Banks with between $50 billion and $250 billion of assets leaned particularly heavily on the Federal Reserve and the Federal Home Loan banks amid deposit outflows in March and April, according to new research that quantifies the scramble for funding.

Ever since Silicon Valley and Signature banks collapsed in March, a scramble began among regulators, politicians, bank executives and others to manage the fallout from this spring's banking crisis. Here are 10 predictions of what still lies ahead to be dealt with.

The two banks failed to meet a requirement that they document their efforts to combat discrimination in lending and employment, according to city officials. KeyBank said the decision was the result of a misunderstanding.

The banking industry, which has been contending with deposit outflows, could get a short-term boost from spooked investors. But once the White House and House Republicans reach a deal on raising the debt ceiling, the pressure on deposits may resume, analysts say.

Silicon Valley Bank's failure in early March kicked off a period of turmoil unlike anything the U.S. banking industry has been through since 2008 and 2009. Here's a look back at the key events.

The California bank says the drop occurred last week after a news report that the lender was in talks with potential investors.