Finance
Fifth Third, Truist Weather March Banking Turmoil With Deposits Flat
- Deposits at Truist stood at $408 billion at the end of March
- Collapse of SVB has investors focusing on deposit flows
A Truist Bank branch in Dallas, Texas.
Photographer: Shelby Tauber/BloombergThis article is for subscribers only.
Truist Financial Corp. and Fifth Third Bancorp. were among several regional banks that reported broadly stable deposits in the first quarter as lenders weathered the fallout from the collapse of three lenders in March.
Deposits at Truist stood at $408 billion as of March 31 versus predictions for about $411 billion by analysts tracked by Bloomberg. For Fifth Third, average deposits were about $161 billion, roughly flat compared to the end of 2022. At Huntington Bancshares, they were around $146 billion, up slightly from the prior quarter.