As PNC bleeds non-interest deposits, US Bancorp picks up more

Divergence in savings mix follows March’s deposit flight

Non-interest-bearing deposits moved in opposite directions at US Bancorp and PNC Bank in the first quarter, proving not all lenders benefitted equally from savers fleeing smaller banks in March.

PNC’s year-long haemorrhage of zero-cost deposits continued in Q1, with outflows reaching $12.3 billion. At $121.2 billion, the balance was down by more than a fifth compared with a year prior.

!function(e,i,n,s){var t="InfogramEmbeds",d=e.getElementsByTagName("script")[0];if(window[t]&&window[t]

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here