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Banks Survived Another Week—and the Biggest Ones Look Like Winners

11
Andrew Bary
·9 min read
Banks Survived Another Week—and the Biggest Ones Look Like Winners

Questions remain about the health of some regional banks, even after 11 large banks rescued San Francisco–based First Republic Bank (ticker: FRC) on Thursday with a deposit infusion encouraged by the government. First Republic shares fell Friday by almost 33%, to $23.03, after the bank suspended its dividend, while selling in a broad group of regional banks sent the Invesco KBW Bank exchange-traded fund (KBWB) to a new low for the year. The ETF fell 15% in the past week, and nearly 30% in the past two weeks, as concerns spread after the failure of SVB Financial Silicon Valley Bank and Signature Bank.

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