US Banks Experience Mixed Results Amid Deposit Outflows and Interest Rate Risk.
TL;DR
Deposit outflows from smaller regional banks were not as bad as feared, with the biggest US banks seeing deposits rise, according to bank deposit data. The top 25 domestically chartered banks' deposit market share increased to 66.4% as of March 15 from 65.7% in the previous week. Bank shares rose in premarket trading, with the SPDR S&P Bank ETF climbing 3.0% and the SPDR S&P Regional Banking ETF gaining 3.2%. The FDIC also announced that First Citizens agreed to acquire Silicon Valley Bank's deposits and loans.
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