Banks with higher levels of noninterest-bearing deposits were valued at a median 156.8% of tangible book value in the second quarter, more than 22 percentage points above banks with lower levels of such deposits, S&P Global Market Intelligence reported. Deposit quality is also shaping M&A pricing, with buyers paying more for institutions that have larger concentrations of noninterest-bearing deposits and lower deposit costs.
Another S&P article discussed how credit card performance continued to improve in the second quarter, with delinquency and net charge-off rates falling quarter over quarter and year over year.
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