State of U.S. Consumer and Small Business Deposit Trends
Here are the key highlights from our September 2025 State of US Deposits webinar.
As we move into the final quarter of 2025, consumer deposit growth shows resilience, while small business deposits reflect the pressures of a high-rate environment. Insights from the Federal Reserve, ProSight’s proprietary deposit tracking, and Equifax IXI Network reveal a complex picture influenced by interest rate policies, household wealth shifts, and evolving customer behavior.
2.0% to 2.5%
1.5% to 2.0%
1.0% to 1.5%
Consumer Deposit Balance Growth:
3.75% - 4.00%
4.00% - 4.25%
3.75% - 4.00%
4.00% - 4.25%
4.25% - 4.50%
Prevailing Banking Trends
Key Consumer Deposit Trends
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Target affluent households in growing metro areas like Dallas, Miami, and Seattle with rate-sensitive products to maximize deposit capture.
Key opportunity
Federal Funds (end of 2025)
Household wealth
Top 5 States with Most Affluent Young Households
(<29 years old, $1M+ assets)
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Federal Funds (end of 2025)
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Key Small Business Deposit Trends
Median household assets equal $66K:
24% of US wealth.
Mass affluent ($100k-$1M) segment holds
Wealth growth is concentrated in affluent households (+17%), leaving mass market (<$100K) families with slower asset growth (+1%).
Deposit growth stays positive, but slow
Wealth drives opportunity
High rates are shifting behavior
Balances shift by account type
Banking growth dynamics
Deposit growth is rate-dependent
Cash on hand is king
Watch for contraction
Down 12%
over three years, reflecting financial strain
+1.1% YTD
Consumer deposits
+4.1% YTD
Small business deposits
+2.3% YTD
Consumers are leaning into liquidity, driving checking balances up
Having cash during uncertainty is critical for middle income.
With rates above 4%, negative deposit growth (-3% to -4%) looms as small businesses move money to operations.
Only meaningful rate cuts can shift small business deposits back into growth mode.
4.25% - 4.50%
Consumer Deposit Balance Growth:
Consumer Deposit Balance Growth:
-1% to -2%
-2% to -3%
-3% to -4%
Small Business Deposit Balance Growth:
3.75% - 4.00%
4.00% - 4.25%
4.25% - 4.50%
3.75% - 4.00%
4.00% - 4.25%
4.25% - 4.50%
Small Business Deposit Balance Growth:
Small Business Deposit Balance Growth:
50K Households
california
texas
31K Households
illinois
17K Households
new york
36K Households
florida
27K Households
High rates are shifting behavior
Wealth drives opportunity
Deposit growth stays positive, but slow
73% of US wealth.
Top 11% of households control
Affluent (>$1M) households hold
$8.2T in deposits.
With federal funds rate +2%, both consumers and small businesses are pivoting to higher-yield options and prefer operational cash.
Balances shift by account type
Banking growth dynamics
Deposit growth is rate-dependent
Large and super-regional banks lead cumulative total deposit balance growth.
Regional banks are down (-1.8); direct banks have slowed (+1.6 vs. +5.3 in 2024).
+1 and +1.5%
If rates hold, expect modest deposit gains between
+2.5%
Rate cuts could accelerate growth up to
Watch for contraction
Cash on hand is king
Small businesses boost deposit amount to support operational flexibility
+4.1% YTD
+3.7%
Checking
+6.2%
MMDA
To address the median household, banks are required to innovate with accessible savings and investment solutions
To address the median household, banks are required to innovate with accessible savings and investment solutions
Down 12%
over three years, reflecting financial strain
2.0% to 2.5%
Consumer Deposit Balance Growth:
1.5% to 2.0%
Consumer Deposit Balance Growth:
1.0% to 1.5%
Consumer Deposit Balance Growth:
3.75% - 4.00%
4.00% - 4.25%
4.25% - 4.50%
3.75% - 4.00%
4.00% - 4.25%
4.25% - 4.50%