Nearly half of Americans are worried about the safety of their money in banks, according to a new Gallup poll.
The Gallup poll was conducted April 3 to April 25 — after the failures of SVB and Signature but before the collapse of First Republic. Investor concerns about banks' health continued into Thursday, as shares in several other midsize banks tanked over fears of further depositor flight.
The results are even more stark by education: Among individuals with a college degree, a combined 36% express any level of concern. Just 9% of that group say they are “very worried.” That's the lowest rate of respondents who say so among any of the demographic categories measured by Gallup. And wealthier respondents are less concerned than less-well-off ones: Just 40% of households with $100,000 or more in annual income say they are"very worried" or"moderately worried," compared with 52% of households earning $40,000 to $99,999. Households earning less than $40,000 polling at 50%.
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