US Regional Banks Struggle with Lost Deposits and Stock Slides.
TL;DR
The stocks of KeyCorp, Comerica, and Zions Bancorp fell after all three reported a drop in deposits and weaker-than-expected quarterly results, as regional banks sustained collateral damage from the collapse of Silicon Valley Bank. Banks that have reported so far have seen deposits drop by about 2% in the quarter, less than the 3% to 3.5% rate suggested by recent Fed data. To win more positive sentiment from investors, it may be necessary for deposit stability to continue for another quarter or two.
- KeyCorp's, Comerica's and Zions' stocks slide as lost deposits weigh on earnings MarketWatch
- US regional banks' stability comes at a price after SVB's collapse Financial Times
- The Era of Easy Deposits Is Over for Main Street Banks The Wall Street Journal
- Regional Bank Stocks Choppy After Earnings From Zions, KeyCorp, and Others Barron's
- US regional banks' shares slip as deposit flight counters higher interest income Yahoo Finance
- View Full Coverage on Google News
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