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Comerica , a regional bank in Dallas, said its deposits fell 9% during the first three months of the year. Zions ( ZION ), a Salt Lake City lender, said they dropped 3.4%.
More US regional banks are taking a step that was unthinkable more than a year ago in the aftermath of the Silicon Valley Bank failure: selling underwater bonds at a loss.
"The 2023 situation was another manifestation, another endorsement of the big-bank business model, and really, it's sort of damning for the regional banks with a niche business model," Steven ...
Regional bank stocks struggled for much of 2023 after the collapses of Silicon Valley Bank and Signature Bank sparked a flight on deposits and sent shockwaves through the stock and bond markets.
The central bank in March shuttered the Bank Term Funding Program, established after regional banking turmoil last year to help lenders meet their liquidity needs. Sheila Bair, former chair of the ...
The stock of Dallas regional bank First Foundation plummeted following a $228 million infusion, the latest reminder that commercial real estate challenges for some regional lenders are far from over.
A sizable drop in profits at many regional banks in the fourth quarter was a reminder of how challenging 2023 was. The problem is 2024 may not be much better.
PacWest is one of several regional lenders that struggled to keep depositors following the March 10 failure of Silicon Valley Bank. Regional bank stocks hit a year-to-date low on May 4, the week ...