- The implosion of Silicon Valley Bank has dragged down other regional banks as fears of contagion grow.
- Shares of First Republic Bank and PacWest Bancorp have plunged as much as 61% and 53% since Thursday, respectively.
- Both regional banks are growth-oriented and have exposure to venture capital customers.
The biggest bank failure since the 2008 financial crisis has dragged down other regional bank stocks as fears of contagion grow.
Since Silicon Valley Bank announced a $1.8 billion loss related to its bond portfolio and has since been taken over by the FDIC, shares of First Republic Bank and PacWest Bancorp have plunged as much as 61% and 53%, respectively.
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