Western Alliance Bancorp's Deposit Decline Continues Amidst Banking Crisis Fallout.
TL;DR
Western Alliance Bancorporation reported an 11% decrease in deposits for Q1 2022, with total deposits at $47.6 billion as of March 31, down from $53.6 billion at the end of 2021. The drop in deposits was due to customers withdrawing funds after the collapse of two mid-sized U.S. lenders last month. The announcement helped the company's stock regain some lost ground before it closed 12% lower at $29.37. U.S. banks will kick off first-quarter earnings next week, with investors expected to watch their balance sheets closely for any signs of stress.
Topics:businessfinance#deposits#federal-reserve#finance#investors#us-banking-crisis#western-alliance-bancorporation
- Western Alliance Bancorp's deposits fall 11% on U.S. banking crisis fallout Reuters
- Western Alliance Shares Fall on Lack of Deposit Details Bloomberg Television
- Western Alliance stock pares some losses after reassuring investors about deposits Yahoo Finance
- Morgan Stanley Cuts Regional Banks Outlook; Western Alliance Dives On Financial Update | Investor's Business Daily Investor's Business Daily
- Western Alliance Deposits Fell 11% in Q1 to $47.6B Bloomberg Television
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