Major U.S regional banks said their deposits mostly stabilized and net interest income rose after the first-quarter collapse of Silicon Valley Bank sparked industry turmoil, sending their shares soaring on Wednesday.
Three major U.S. regional banks met or beat profit expectations as higher interest rates allowed them to charge more for loans.
M&T Bank’s deposits rose to $162.1 billion from $159.1 billion at the end of the first quarter, but fell about 4.9% year-on-year.
