US regional banks suffer as banking turmoil fears persist.

1 min read
Source: Markets Insider
US regional banks suffer as banking turmoil fears persist.
Photo: Markets Insider
TL;DR Summary

Shares of PacWest Bancorp and Western Alliance Bancorp fell more than 25% each, leading a broader sell-off in regional bank stocks after JPMorgan's Jamie Dimon said "this part of the crisis is over" following the takeover of First Republic Bank. Other banks caught in the sell-off include Zions Bancorp and Fifth Third Bancorp. Dimon and Citigroup CEO Jane Fraser both expressed relief that the last remaining uncertainty of the small handful of banks that did not do a good job with asset liability management had been resolved.

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