Major U.S. Banks see deposits dip

While anecdotally many big banks said March bank failures led to a deposit influx, 2023 first-quarter reports have shown a general decline from 2022's fourth quarter. There has also been a deposit outflow compared to a year ago, partially from rising inflation and interest rates. While Minneapolis-based U.S. Bank shows a large one-year increase, it's mostly from an influx of deposits after the acquisition of MUFG Union Bank.