Investor Confidence in Banks Plummets.

The recent seizure and sale of First Republic Bank to JPMorgan Chase was expected to be a turning point for American banks, but shares of regional banks have continued to plummet, with some dropping by double-digit percentages. The KBW Nasdaq Regional Banking Index was down by 15% from the prior week, though it rallied back on Friday to finish the week down 8%. This crisis of confidence among investors is causing concern for customers and the industry as a whole.