How Similar Are Banks Like First Republic, Western Alliance, and PacWest to SVB Financial? Here's What We Know
After last week's shocking collapse of the tech and start-up bank SVB Financial (NASDAQ: SIVB), the parent company of Silicon Valley Bank, bank stocks have sold off broadly, with a lot of pain among regional lenders.
On Monday, bank stocks like First Republic (NYSE: FRC), Western Alliance Bancorporation (NYSE: WAL), and PacWest Bancorp (NASDAQ: PACW) were taking a beating. At one point, First Republic had been down roughly 78%, Western Alliance had been down 84%, and PacWest more than 58%, although they've traded with a lot of volatility as of late.
Investors are worried about things like large unrealized losses in bond portfolios, deposit runs, and uninsured deposits, among many other factors. But are any of these banks actually like SVB? Here's what we know.
Source Fool.com