I understand some of your concerns regarding interest rates and bank performance, however, the two aren't always directly linked, and may be so in an inverse way if they are.
Most banks would actually benefit from a steep increase in long term rates giving us a stiff yield curve. Most banks can reprice their loans within 12 months, deposits may need to be done sooner, but not as high. Other costs remain somewhat fixied.
As a banker, I would prefer higher longer term rates instead of the current climate.
There is also a growing contency made up be some people whom I respect that feel rates might even drop from here...imagine that!
If you like banks as investments, I encourage you to all take a look at Fannie Mae, FNM,.....a first class operation in every sense and a worthy investment.