Bringing Clarity to Deposit Volatility
Deposits have become a lot more volatile, and bankers need a better way to understand these liabilities, argue Justin Bakst and Billy Guthrie of Darling Consulting Group.
J.D. Power: National Banks’ Deposits Vulnerable to Higher-Rate Offers
Customer satisfaction with national banks slightly improved this year, but a J.D. Power study found that depositors are attracted to higher interest rates at investment or wealth management and digital-only banks.
JPMorgan, Cambridge Savings Vault into Ranks of Top Deposit-Holders
Seven out of the top 10 banks in terms of deposits gathered in Massachusetts saw declines in deposits as of the end of June according to FDIC data released this week.
Survey: US Bank Executives Expect to Pay More to Keep Deposits
An S&P survey says bank executives are getting less optimistic as they expect to pay more to continue keeping deposits and to rely more on deposit rate specials.
Metro Credit Union Scooped Up $200M in Deposits from Spring Bank Failures
Metro Credit Union said it was one of the financial institutions able to grab depositors from the spring bank failures in March, taking in more than $200 million in deposits.
Cambridge Trust Deposits Drop 3.3 Percent
Cambridge Trust Co. saw deposits drop by 3.3 percent in the first quarter, with most of the outflows occurring before the bank failures in March.
Banks Without DIF Protection Turn to IntraFi
While the banking crisis has raised questions about whether the FDIC should guarantee higher deposit balances, some banks have already found ways to insure their customers’ deposits: the IntraFi Network and similar fintech solutions.
M&T Saw Commercial Deposits Drop $2.4B in the First Quarter
Buffalo-based M&T Bank saw deposits decline during the first quarter, a shift the bank expects to stabilize in the coming quarters.
Hingham IFS Gained Deposits Thanks to SVB Worries
Hingham Institution for Savings saw deposits increase in the first quarter as it found opportunities to bring on new customers despite the national economic jitters that struck in March.
Everett Bank’s Assets Grew 60 Percent in 2022
Everett Bank saw its total assets increase nearly 60 percent to more than $1 billion last year, its first year as a stock bank.
Bank Failures Highlight Declining Deposits Industry-Wide
Depositors have accelerated withdrawals amid recent bank failures and sharply rising interest rates, raising concerns about the industry’s health and ability to withstand a crisis, an expert says.
Webster Bank to Acquire interLINK
Connecticut-based Webster Bank has agreed to acquire a deposit management platform, adding more than $9 billion in core deposits to the bank.
Bank Deposit Surge Continued in 2021
The deposit surge that began in the early days of the pandemic continued this year, according to the FDIC’s annual report on bank deposits, with Massachusetts seeing a 34 percent since 2019.
Digital Dominates Deposits at BofA
Bank of America’s customers now mostly use digital channels rather than teller lines to make deposits as the bank continues to see digital engagement grow.
‘SAFE’ Marijuana Bill Would Increase Deposits at Banks, CUs by $1.4B
Insured deposits at financial institutions would see a bump if Congress provided legal safety for those banking marijuana businesses.
Webster Bank Falls Behind Deposit Goal in Boston
When Webster Bank expanded into Boston in 2016, its goal was to raise $1 billion in deposits within the first five years. And at the beginning of this year, the bank reported being on target to hit that goal.
Webster Bank on Pace to Hit $1B in New Deposits in Boston Market
Webster Bank’s plunge into the Boston market is continuing to prove fruitful for the $26.5 billion asset institution.
Despite Only Six Branches, Deposits Balloon At Belmont Savings Bank
Belmont Savings Bank Bancorp, the holding company of Belmont Savings Bank, continued to chug along, increasing its net income year-over year nearly 36 percent from $2.95 million for the second quarter of 2016 to $4.01 million at the end of the second quarter this year.
BSB Posts 73 Percent Growth In 2016
BSB Bancorp posted strong earnings driven by core deposits in the fourth quarter last year, representing the 14th consecutive quarter of growth for Belmont Savings Bank.
