"Banking Crisis Continues: First Republic Collapse Triggers Sell-Off and Fear for Small Banks"

The collapse of First Republic Bank, the third major casualty of the biggest crisis to hit the U.S. banking sector since 2008, has sparked a sell-off in shares of several regional lenders. The KBW Regional Banking Index was down 1.9% on Monday, while shares of Citizens Financial Group, PNC Financial Services Group, Truist Financial Corp, and U.S. Bancorp fell between 1.2% and 7%. JPMorgan Chase & Co will pay $10.6 billion to the U.S. Federal Deposit Insurance Corp for most of the failed bank's assets. Mid-cap banks are also facing a massive challenge due to aggressive monetary policy tightening by the U.S. Federal Reserve.