Not Even This Strong Bank Is Immune to Deposit Pressure Right Now

Bram Berkowitz, The Motley Fool
·4 min read
Not Even This Strong Bank Is Immune to Deposit Pressure Right Now

As I've discussed in the past, the Boston-based regional lender Eastern Bankshares (NASDAQ: EBC) is one of my favorite mid-cap bank stocks, primarily because of its incredibly strong deposit base. Additionally, the Fed has been pulling liquidity out of the economy by shrinking its balance sheet in a process known as quantitative tightening, which has also led to deposits leaving the banking system. In the fourth quarter, these trends seemed to catch Eastern by surprise, with the bank seeing a significant rise in deposit costs and deposit outflows, showing that no bank is immune to the environment right now.

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