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Many banks whose shares got hammered a day earlier rebounded strongly, with double-digit gains at Western Alliance Bancorp, First Republic Bank and PacWest Bancorp in midafternoon trading.

The recent bank failures have changed market thinking about the Federal Reserve's next move.

According to a New York state Department of Financial Services official, the bank failed to provide 'reliable and consistent' data.

Sen. Elizabeth Warren, D-Mass., said that former Silicon Valley Bank CEO Greg Becker's assurances to Congress about the bank's safety in 2015 "now look nefarious."

Some tech startup clients had to scramble to retrieve money as the bank was closing. Many wonder which financial institution will fill the void. 

The loan portfolio is seen as an attractive buy and was not a contributing factor in the bank run that caused Silicon Valley Bank's demise.

Signature Bank's payments network — used by cryptocurrency firms looking to exchange fiat currency in real time — is still online even after the lender was put into receivership.

The West Palm Beach credit union named Steve Bosack as its new chief executive. He has worked for the National Credit Union Administration and Pentagon Federal Credit Union among other stops.

The credit rating company cited concerns over the lenders' reliance on uninsured deposit funding and unrealized losses in their asset portfolios. 

Small and midsize banks flooded the Federal Home Loan Bank System with demands for liquidity to avert potential bank runs and stave off taking unrealized losses on investment portfolios just as the Federal Reserve opened a liquidity facility for just that reason.