Regional banks retreated in early trading Tuesday after First Republic Bank reported the extent of its deposit losses in the first quarter.
The results, posted after the bell on Monday, showed that the lender had to borrow at high rates from the Federal Reserve and others to cover outflows. While the turmoil surrounding bank stocks has mostly subsided after Silicon Valley Bank and
Signature Bank
failed, First Republic’s report threatens to shake confidence once again.
Source: https://www.barrons.com/articles/regional-bank-stocks-first-republic-pacwest-western-alliance-zions-d00797cc?siteid=yhoof2&yptr=yahoo