Regional US Banks Bounce Back from Crisis of Confidence

Shares of US regional banks, including PacWest Bancorp, Western Alliance Bancorp, Fifth Third Bancorp, Comerica Inc, and KeyCorp, rose as investors tried to look past the crisis of confidence brought on by the collapse of three banks in two months. The KBW Regional Banking Index, which had lost 13.7% so far this month, rose 2%. Despite deposits rising, investors have remained wary of any reassurances from analysts and regulators on the stability of the regional banks. Deposits at US banks climbed to $17.16tn in the week ended May 3, up about $67bn to mark the first increase in four weeks.