Small Banks Are Losing to Big Banks. Their Customers Are About To Feel It
The 25 biggest U.S. banks gained $120 billion in deposits in the days after Silicon Valley Bank collapsed, according to Federal Reserve data. All the U.S. banks below that level lost $108 billion over the same period, marking the largest weekly decline in smaller banks’ deposits in dollar terms on record. The panic has subsided, but the deposit swings could have long-lasting repercussions for the communities served by smaller banks.
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