Stock Of Regional U.S. Banks Down Again

Shares of major US regional lenders erased premarket gains in the early hours of trading on Friday (Saturday, May 13, 2023, in Manila), underscoring the sector's volatile status quo as worries of a deepening banking crisis rattled investors, Reuters reported.

Photo Insert: Comerica Inc., Fifth Third Bancorp. and KeyCorp. fell between 1% and 2%.

Comerica Inc., Fifth Third Bancorp. and KeyCorp. fell between 1% and 2%.

Shares of Western Alliance Bancorp. also dipped. The bank's stock had ticked down just 0.8% on Thursday, less than other industry peers, after it said total deposits jumped $600 million in the week to May 9.

PacWest Bancorp was an outlier, recovering 1% a day after the lender lost over a fifth of its market value. The Los Angeles-based bank had disclosed that its deposits declined last week and it posted $5.1 billion more in collateral to the US Federal Reserve to boost its liquidity.

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