Banking Crisis 2023

The Sacramento-area institution moved quickly and decisively to fill the gap created by the loss of First Republic and Silicon Valley Bank. A first-quarter rise in Bay Area deposits is a sign of bigger gains to come, San Francisco Bay Area President DJ Kurtze says.

The agency has a history of tangling with parent companies over how to split the burden after banking units collapse.

During the March 2023 banking crisis, company executives had to calm panicked customers, shore up liquidity and reassure investors after two other regionals failed. Key decisions during a critical seven-day window likely averted disaster.

Ken Vecchione, leader of Western Alliance since 2018, grew up listening to his parents talk business strategy around the dinner table. He called on those lessons and his more than 30 years of experience to steer the regional bank through last year's turmoil.

Ten months after the Raleigh, North Carolina, company acquired a large chunk of Silicon Valley Bank, it says it is seeing good progress in keeping and winning back the latter's former customers. But the ongoing slowdown in private equity and venture capital activity will challenge the unit's growth.

The Bank Term Funding Program, established during last year's liquidity crunch, will stop issuing new loans on March 11. Until then, banks can still borrow from the facility, though at less favorable terms.

After California was hit hard by the banking crisis of 2023, tens of thousands of commercial and consumer customers turned to East West, helping the company achieve record full-year revenue, its CEO says.

The Seattle bank's stock price fell in 2023 amid concerns over rising interest rates and its concentration of multifamily loans. The buyer is FirstSun Capital Bancorp, which raised $175 million as part of the deal.

The Federal Reserve's inexplicable failure to enforce rules requiring Silicon Valley Bank Financial Group to serve as a "source of strength" for its subsidiary saddled the FDIC with billions in extra losses.

Surging interest rates, recession threats and weaker stock valuations bogged down merger-and-acquisition activity last year. The 98 announced deals fell short of even 2020, when the pandemic briefly brought the economy to a standstill.

Heading into the year, U.S. banks were facing pressure to pay higher rates to their depositors. But they could not have anticipated just how important deposits would soon become.

Overall merger-and-acquisition activity proved modest across the banking sector, but several prominent deals were reached. Read on for details of the year's biggest transactions.

Here is a highlight of 10 great American Banker Magazine features from the year. Topics range from redlining to the Most Influential Women in Fintech.

The top risk executives at U.S. banks are still weighing the fallout from the failures earlier this year and are considering ways they can better handle risks tied to their treasury and asset-liability management.

The KBW Bank Index soared 9% over two days on the heels of the Wednesday afternoon meeting, its best such rally in nearly three years.

The five banks that went under in 2023 had nearly $550 billion of assets, the largest total in a single year. Here's a look back at how they unraveled.

In this year's roundup of top banking news for 2023: Navy Federal Credit Union joins the RTP network amid ongoing military contract woes, major banks across the U.S. announce staff cuts, regulators shutter Signature Bank and more.

U.S. regulators' swift action in March to ring-fence the banking sector after the collapse of Silicon Valley Bank might have had an unintended consequence of driving cash out of bond funds by enhancing the appeal of deposits, two New York Fed researchers say.

Bankers and others now will get until Jan. 16 to weigh in on a proposal that would require more large banks to hold long-term debt. Regulators say they wanted to give the public more time to thoroughly assess its implications.