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Western Alliance Bank said in a statement, “Deposits within our Technology and Innovation group, which has been disproportionally impacted by the recent market turbulence, represented less than 8% of total deposits as of March 16, 2023. A substantial percentage of these accounts are tied to broader banking relationships that include treasury management services and/or credit facilities that have proven to make these deposits more resilient to runoff.”
Published first on TheFly
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