New York Financial: New banks stumbled after their stocks fell dramatically
04-05-2023 09:46 PM
Ammon – Shares of regional banks fell on Thursday despite the Federal Reserve’s assurances that the banking system is on solid foundations.
Shares of (Pacific West Bank) and (First Horizon) Bank were particularly affected, each falling more than 30 percent, as investors questioned the extent of regional banking problems.
Some banks have been severely affected since the regional banks began to fluctuate last March, and today the share of (Pacific West) Bank began to decline after news that it was considering selling itself.
At midday, (Pacific West) share fell by 39 percent to less than $4 per share, while First Horizon Bank’s share price fell by 33 percent to $10 per share.
It is noteworthy that, a few days ago, the Federal Reserve Bank (the Central Bank of America) seized (First Republic) Bank and sold it to (Chase) Bank after a major collapse in its shares.
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Ammon – Shares of regional banks fell on Thursday despite the Federal Reserve’s assurances that the banking system is on solid foundations.
Shares of (Pacific West Bank) and (First Horizon) Bank were particularly affected, each falling more than 30 percent, as investors questioned the extent of regional banking problems.
Some banks have been severely affected since the regional banks began to fluctuate last March, and today the share of (Pacific West) Bank began to decline after news that it was considering selling itself.
At midday, (Pacific West) share fell by 39 percent to less than $4 per share, while First Horizon Bank’s share price fell by 33 percent to $10 per share.
It is noteworthy that, a few days ago, the Federal Reserve Bank (the Central Bank of America) seized (First Republic) Bank and sold it to (Chase) Bank after a major collapse in its shares.
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