U.S. Bank interest income has stabilized

Major regional banks’ deposits stabilized after Silicon Valley Bank’s first-quarter failure, with net interest income climbing.

Higher interest rates allowed three large U.S. regional banks to charge more for loans, exceeding profit estimates.

M&T Bank’s deposits climbed to $162.1 billion, but declined 4.9% year-over-year.

US Bancorp reported average deposits of $497.27 billion, down 2.6% from the first quarter but up 9% year-over-year. Citizens had $173.2 billion in deposits, down 1%.

First Horizon deposits rose 6% quarterly.

After deposit runs, Silicon Valley Bank and two other lenders collapsed in the first quarter, leading anxious customers to shift their money to larger banks.

The outlook is positive, with no more failures for a while and no apparent imminent ones.


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