“US Regional Banks Remain Under Pressure as First Republic Sinks”

“…Regional banks were among the hardest hit as the KBW Regional Banking Index sank 7.7%, its sharpest plunge since June 2020. The rapid selloff came even as the Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. said they were introducing a new backstop for banks that would be large enough to protect the entire nation’s deposits…

• First Republic Bank sank 62% for a record drop, sparking multiple halts for volatility
• Western Alliance Bancorp lost 47%, its biggest drop ever
• PacWest Bancorp dropped 21% to the lowest close since 2009
• Among other regional banks sinking more than 20% on Monday and triggering halts: Customers Bancorp Inc., Comerica Inc. and Zions Bancorp NA

Many large US banks also churned lower, with Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. all slumping 5% or more on Monday…”

https://finance.yahoo.com/news/us-regional-banks-remain-under-092829687.html

These large banks mismanage money and when they start to fail it affects everyone else. Put your money in a smaller local bank. Don’t help prop up this bigger banks that use risky tactics to make more money.