First Citizens Bancshares Inc., FCNCB 1.85% one of the nation’s largest regional banks, is buying big chunks of Silicon Valley Bank more than two weeks after the lender’s meltdown rocked the banking system. The Federal Deposit Insurance Corp. said First Citizens FCNCB 1.85% acquires all deposits, loans and branches of Silicon Valley Bank, which will … Read more
Text size US consumer and housing market data, as well as several notable earnings reports, will be the highlights this week. Barring any surprises, congressional testimony from federal financial regulators will be the main event on the banking front. On Wednesday, Fed Vice Chairman Michael Barr and Federal Deposit Insurance Corp. Chairman Martin Gruenberg are … Read more
Market turmoil this year has nervous investors rushing to cash. But protecting your money isn’t as easy as putting it in a mattress. Despite recent strains in the banking sector, a bank account remains the easiest place to store money. Balances up to $250,000 are protected by the Federal Deposit Insurance Corp., or FDIC, at … Read more
Text size These reports, excerpted and edited by Barron’s, were recently published by investment and research firms. The reports are a sample of the analysts’ thinking; they should not be considered Barron’s opinions or recommendations. Some of the issuers of the reports have provided, or expect to provide, investment banking or other services to the … Read more
Text size As Fed Chairman Jerome Powell acknowledged on Wednesday, the latest rate hike will certainly slow the economy. Al Drago/Bloomberg Never underestimate the ability of the stock market to prioritize hope over experience. Hope would suggest that all will be well: the bank run that began with the collapse of Silicon Valley Bank is … Read more
A normally calm corner of the financial markets – preferred stocks – was rocked by the foreclosures of Silicon Valley Bank and Signature Bank, and that created opportunities for investors. Preferred shares are a senior form of stock whose dividends come before those of common stock. However, bank-issued preferred shares account for about two-thirds of … Read more
Charles Schwab is facing a tough few quarters as customers seek higher returns on their money. Photograph by Nicole Fara Silver Text size As Silicon Valley Bank imploded and regional bank stocks tumbled earlier this month, investors intensified their scrutiny of Charles Schwab — and sent stocks plummeting. Executives, including founder Chuck Schwab, moved quickly … Read more
Bank of the First Republic FRC -3.74% has paid family members of its founder, James Herbert, millions of dollars for work at the lender in recent years, including for interest rate and risk advisory services, according to public disclosures made by the bank as part of the annual deposits. The bank paid Mr. Herbert, who … Read more
Text size Federal Reserve Chairman Jerome Powell speaks to reporters on Wednesday. Alex Wong/Getty Images Banks continued to borrow from the Federal Reserve at historic levels close to the 2008-2009 financial crisis last week. They borrowed an additional $110.3 billion from the Federal Reserve’s main lending window, down from the previous week’s record $153 billion, … Read more
Text size JPMorgan Chase is one of the top holdings in the SPDR S&P Bank ETF. Gabby Jones/Bloomberg Bank stocks have fallen to levels not seen since the pandemic, a chilling signal. What happens next will be telling. The SPDR S&P Bank listed index fund (ticker: KBE ), who counts New York Community Bank (NYCB), … Read more