2024-02-13 12:30:00 ET
Summary
- On Jan. 30, concerns about regional banks were reignited when New York Community Bank (NYCB) revealed that its earnings were well below expectations.
- While we’re seeing an impact on regional bank stock prices, we believe the problems remain contained to a very small portion of smaller banks.
- The S&P 500 Index shrugged off the news and made gains despite bank headlines, topping the 5,000 mark for the first time ever last week.
Last spring saw a sell-off in regional bank stocks as several smaller banks failed, starting with Silicon Valley Bank. The situation ultimately cooled down, but we always had a sense that, while the situation was contained, there could be flare-ups in the form of one or a few individual banks that came under pressure.
In late January, concerns about a regional bank crisis were reignited when New York Community Bank ( NYCB ) revealed that its earnings were well below expectations....
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Will NYCB Lead To Another Regional Bank Crisis?