The Importance of Deposits in the Mid-Sized Banks

Steeffeel: We are in a very unique situation with respect to this whole question of deposit cost. And I think when we get back to a normal yield curve, there'll be less focus on this. The bigger issue is that what this has done is it has hurt the confidence of the safety of deposits in the regional mid-sized banks. So they need to level the playing field with and everyone should compete for those deposits based on local dynamics, service, and competitive rates. Michael Santoli joins me alongside Ron Korshevsky at Steeffeel next week. He's CEO of Meta Plus, which seems to be going well since Jan 1; Steve Fall says he