(Reuters) – The closure of two U.S. regional banks in March shook investor confidence in the banking industry and drove spooked customers to seek refuge in “too-big-to-fail” institutions or money market funds for higher yields.

First Republic Bank said on Monday deposits plunged by more than $100 billion in the first quarter and it was exploring options such as restructuring its balance sheet.

Total deposits at Wall Street’s biggest lenders:

Big Banks Reported Q1 Deposits vs Q4

JPMorgan Chase and Co Total deposits increased 2% to $2.38


Bank of America Corp Total deposits declined 1% to $1.91


Citigroup Inc Total deposits declined 3% to $1.33


Wells Fargo & Co Total deposits declined 2% to $1.36


Goldman Sachs Group Inc Total deposits declined 3% to $375


Morgan Stanley Total deposits declined 3% to $347.5


Overview of deposits at other prominent financial firms:

Mid-Sized Firms Reported Q1 Deposits vs Q4

First Republic Bank Reported deposit

outflows of more than $100

billion, excluding $30 billion

injected by big banks

PacWest Bancorp Deposits


nearly 17% to

$28.19 billion

Charles Schwab Corp Deposits shrank 11% to $325.7


M&T Bank Corp Total deposits fell nearly 3%

to $159.1 billion

State Street Corp Deposits at State Street fell

3% to $210 billion

Bank of New York Mellon Corp Average deposits fell 3% to

$274 billion

Citizens Financial Group Inc Average deposits fell 2.6% to

$174.4 billion

Western Alliance Bancorp Total deposits fell 11.3% to

$47.6 billion

PNC Financial Services Group Total deposits rose marginally

Inc to $436.8 billion

First Horizon Corp Total deposits declined 3% to

$61.4 billion

U.S. Bancorp Average total deposits

increased 5.9% to $510.32


Zions Bancorporation Total deposits declined 3% to

$69.2 billion

Fifth Third Bancorp Total average deposits were

down marginally at $160.65


Comerica Inc Average deposits fell about 5%

to $67.8 billion

Truist Financial Corp Average deposits dropped 1.2%

$408.5 billion

KeyCorp Average deposits fell about

1.6% to $143.4 billion

Huntington Bancshares Inc Average total deposits

increased by $472 million

Source: Company statements

(Compiled by Mehnaz Yasmin and Manya Saini in Bengaluru; Edited by Shounak Dasgupta and Shinjini Ganguli)