Deposits

The Cleveland-based regional bank said that its net interest income fell 10% — and profits declined by an even larger percentage — as it paid more to retain depositors. Still, CEO Chris Gorman said the company is "well prepared to handle the deposit challenges in front of the market."

Paying higher rates to customers should help stem deposit outflows at the Salt Lake City bank. But it's expected to contribute to a projected 7% drop in net interest income during the second quarter.

The Providence, Rhode Island, expects NII to decline 3% for the second consecutive quarter now that it's paying more to prevent a further slide in deposits and tightening lending standards in anticipation of a mild recession.

The Phoenix bank provided behind-the-scenes details of the fallout from March's banking crisis, when it lost $8 billion of deposits in a single day. The company's share price closed up 24% on Wednesday after executives vowed to reassess its capital and liquidity strategy.

After seeing deposit increase over the second half of March, CFO Dermot McDonogh restated the New York custody giant's guidance for a 20% year-over-year jump in spread income, hinting the company might actually overshoot its target.

The Federal Deposit Insurance Corp. said it will propose a special assessment to cover losses from Silicon Valley Bank and Signature Bank in May, and noted that bank deposit outflows are largely uninsured.

Deposits at BNY Mellon stood at $281.3 billion, versus the average $277 billion forecast by analysts tracked by Bloomberg.

First-quarter net income rose 15% at Bank of America on strong fixed-income trading revenue and net interest income, which offset higher credit and noninterest expenses as well as an investment-banking slump.

The Boston-based custody bank reported a 9% decline in fee income from a year earlier and a shift away from non-interest-bearing deposits that cost it millions in net interest income. As a result, earnings per share fell 12 cents short of analysts' expectations.

One of the architects of Britain's financial regulation has called for higher capital charges on banks as a "quid pro quo" if the government decides to strengthen deposit guarantees in the wake of Silicon Valley Bank's collapse.

Charles Schwab's underwater securities portfolio has prompted some analysts to lump it together with Silicon Valley Bank. CEO Walt Bettinger says those views are vastly mistaken.

First-quarter customer deposits dropped to $325.7 billion year over year, Charles Schwab reports, roughly in line with analysts' estimates. They fell 11% since Dec. 31.

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.