The S&P 500 was up 3.5% in March. This may come as a surprise, given that two major banks went under and another is in the process of winding down its operations. However, the S&P 500 was resilient, as the damage was largely contained to the banking industry. But bank stocks took a major hit -- some deserved it -- while others were just caught up in the sell-off.

It should come as no surprise, then, that the three worst-performing stocks on the S&P 500 in March were all banks. Let's take a look at the big losers and see if they are worth a closer look as a possible investment or should be avoided.

The three worst-performing stocks on the S&P 500 in March were First Republic Bank (NYSE: FRC), Zions Bancorp (NASDAQ: ZION), and Comerica (NYSE: CMA). First Republic was down a whopping 88.6% in March, while Zions was down 38.2%, and Comerica fell 36.7% for the month.

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Source Fool.com