The failures of three banks earlier this year triggered panic across the country. Despite assurances by the Federal regulators and top executives of large financial institutions, depositors and investors remain jittery about the banking system's stability.
Concerns over the banking crisis led depositors to pull out their money and park it in high-interest paying money market funds or large banks like JPMorgan Chase & Co. (JPM). The company saw its deposits rise 2% year-over-year to $2.38 trillion in the first quarter. JPM was one of the few banks which saw its deposits rise.
