As new deposits slow, bank strategies evolve

CASH FLOW: Russell Morrill of Westerly uses an ATM at The Washington Trust Co. branch in Westerly recently. Banks and credit unions are expecting to see a decline in the size of deposits as the COVID-19 crisis passes. / PBN PHOTO/ELIZABETH GRAHAM
CASH FLOW: Russell Morrill of Westerly uses an ATM at The Washington Trust Co. branch in Westerly recently. Banks and credit unions are expecting to see a decline in the size of deposits as the COVID-19 crisis passes. / PBN PHOTO/ELIZABETH GRAHAM
The billions of dollars doled out in forgivable small-business loans and personal stimulus checks made their way to recipients through their bank accounts. The result: many financial institutions found themselves flush with deposits – essential to provide the liquidity to lend and, in turn, earn money. But while banks and credit unions have reaped the…

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