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Investor panic hits US bank stocks ...News
Mid-sized lenders have shed market value, fueling concerns over the health of the financial system Shares of several regional lenders plunged on Tuesday after the collapse of First Republic Bank, the third major casualty of the biggest crisis to hit the banking sector in the US since 2008. Los Angeles-based PacWest Bancorp, which has $41.2 billion in assets, and Arizona-based Western Alliance Bancorp, which has $68 billion in assets, led the steep selloff. Shares of both lenders were down by at least 15% on Tuesday, triggering investor concerns about the financial health of other mid-sized banks. The pair has s
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