Shares of regional banks continue to decline in the US

The regional bank PacWest, which had financial difficulties after the bankruptcy of 3 banks in the USA within 2 months, also evaluated strategic options, including sales, which again increased the concerns about the banking sector in the markets.

Shares of Pacwest fell more than 50 percent after it announced that it is considering options, including the sale of strategic assets, and that talks with potential investors and partners who have shown interest in the recent period are continuing. In addition, the bank’s shares were halted multiple times due to high volatility.

These developments also negatively affected the shares of other regional banks in the country.

Shares of Tennessee-based First Horizon also dropped nearly 40 percent after Canadian TD Bank announced it was withdrawing from the merger deal with the bank.

While the shares of Phoenix-based Western Alliance Bank fell by nearly 40 percent, the shares of this bank were stopped from time to time.

In addition, among other US regional banks, Metropolitan Bank and Citizens Financial have 10 percent, Comerica Bank 9 percent, KeyCorp 5 percent, and Valley National Bank 4 percent. lost in value.

3 banks went bankrupt in 2 months in the USA

The problems in the banking sector, which started with the bankruptcy of Silicon Valley Bank (SVB) and Signature Bank in the USA at the beginning of March, came to the fore again with the sharp decline in the shares of First Republic Bank, which revealed deposit losses in its first quarter balance sheet announced last week.

The US Federal Deposit Insurance Fund (FDIC) announced earlier this week that First Republic Bank was shutting down and its assets would be acquired by JPMorgan Chase. First Republic Bank became the third bank in the US to go bankrupt within 2 months after the sharp rise in interest rates.

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