Thursday, May 4, 2023

As the slow-motion stability crisis for mid-sized banks continues (First Republic already gone; now everyone giving PacWest the side-eye) Calcbench wanted to put our financial data prowess to work.

To wit, then, we offer a public spreadsheet tracking the changes in deposit levels at more than 350 publicly traded banks across the United States.

You can view the data simply by clicking on the link above. It shows the banks, total assets, total deposits, and change in deposit levels from year-end 2021, year-end 2022, and Q1 2023. Figure 1, below, gives you a sense of it.

The big picture is that for all 373 banks we are tracking, total deposits fell by 2.26 percent last year, from $17.62 trillion at the end of 2021 to $17.23 trillion at the end of 2022. Deposits accounted for 66 percent of total assets at the end of 2022 as well.

We don’t yet have enough data on Q1 2023 deposits to draw any conclusions about banks overall. (All the “N/A” and “VALUE!” entries you see on the spreadsheet are banks that haven’t yet filed Q1 numbers.) At the individual level, however, we do have some Q1 numbers that speak to the larger conversation about bank stability.

For example, JPMorgan Chase ($JPM) saw deposits fall by nearly 5 percent last year compared to 2021 numbers — but deposits then jumped by 1.58 percent in the first quarter of this year. Presumably that’s a flight to safety, as skittish depositors transfer their savings from mid-sized banks to larger, safer players like JPMorgan.

On the other hand, we have mid-sized institutions such as M&T Bank ($MTB). Its total deposits rose 24.3 percent last year to $163.5 billion — and then dropped 2.7 percent in first-quarter 2023. Citizens Financial Group ($CFG), U.S. Bancorp ($USB), and other middle-tier banks saw similar trends.

How can you use this spreadsheet? As we said, anyone can view it, although nobody (other than Calcbench) can alter the data itself. You can download the whole file into an Excel spreadsheet on your own desktop, and then modify the data and formulas as you’d like.

We’ll also keep updating this spreadsheet with fresh data until all banks file their Q1 numbers, which will take a few more weeks at least.

Now back to business as usual, wondering which banks might be next on the stability crisis.

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