![]() ![]() ![]() lenders with $41.2 billion in assets as of the end of last year, according to Federal Reserve data. ![]() Los Angeles-based PacWest tumbled by more than 27%. "This is potentially a big deal, which hopefully won't materialize to anything significant," he added. "If a 'confidence crisis' can happen to First Republic, it can happen to any bank in this country," said Jake Dollarhide, CEO of Longbow Asset Management. The KBW Regional Banking Index (.KRX) fell 5.52%, hitting its lowest since December 2020. Investors fear the latest turmoil, which began with the failures of Silicon Valley Bank and Signature Bank in March, could spread to other regional banks. bank failure since the 2008 financial crisis. JPMorgan Chase (JPM.N) agreed on Monday to acquire a majority of First Republic's assets in a $10.6 billion deal after regulators seized the lender, which became the largest U.S. regional banks PacWest Bancorp (PACW.O) and Western Alliance Bank (WAL.N) plunged on Tuesday as the demise of First Republic Bank (FRC.N) triggered investor concerns about the financial health of other mid-sized lenders. ![]()
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