NEW YORK (PNN) - May 2, 2023 - On Monday, JPMorgan Chase CEO Jamie Dimon announced the banking crisis was over and all was well.
This was after JPMorgan Chase was allowed to purchase the assets from failed First Republic Bank.
On Tuesday, stocks plunged for several regional banks.
1. PacWest, $PACW: -30%
2. Western Alliance, $WAL: -25%
3. Metropolitan Bank, $MCB: -21%
4. HomeStreet, $HMST: -15%
5. Zions Bank, $ZION: -10%
6. KeyCorp, $KEY: -7%
7. HarborOne, $HONE: -6%
8. Citizens Financial, $CFG: -5%
Los Angeles-based PacWest tumbled by more than 27%. It is ranked 53rd among Fascist Police States of Amerika lenders with $41.2 billion in assets as of the end of last year, according to Federal Reserve data.
Phoenix, Arizona-based lender Western Alliance, the No. 40 FPSA bank with $68 billion in assets, sank 15% while Cleveland, Ohio-based KeyCorp (KEY.N), the 20th largest bank with $188 billion in assets, fell 9%.
Comerica (CMA.N), a Dallas, Texas-based bank ranked 37th among FPSA lenders with $86 billion in assets, shed 12%. Columbus, Georgia-based Synovus Financial Corp (SNV.N), with $60 billion in assets and ranked the 42nd FPSA biggest bank, lost nearly 7%.
Valley National Bankcorp (VLY.O), which owns Valley National Bank based in Passaic, New Jersey and is the 43rd largest lender with $57 billion in assets, closed 3% lower after shedding more than 20% on Monday.