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Summary
Three banks failed in the last week, including the closures of Silicon Valley Bank and Signature Bank, the second and third largest bank failures in U.S. history. The closures ended a long quiet period in traditional bank insolvencies since the Great Financial Crisis and came after the institutions faced a liquidity crunch. The run on the banks that occurred prompted fears over other banks' deposit bases, which in turn led to a broad selloff in bank stocks.
However, regulators responded to the situation with unprecedented support, by backstopping all deposits at Silicon Valley and Signature, and placing the institutions into bridge banks. Regulators also unveiled a new bank term funding program aimed at shoring up confidence in bank deposits. Many banks have provided intra-quarter updates touting the strength in capital and liquidity and new sources of funding they have secured as well, but institutions have still faced pressure in the public markets.
Join us for a panel discussion featuring leading banking industry advisors on the implications of this historical event and where the banking industry may be headed from here.
During this webinar we'll discuss:
- Were the failures of Silicon Valley and Signature idiosyncratic events?
- Will more regulation come to the $50B-plus asset banks? Could we see TLAC applied to smaller banks?
- What have banks done already to calm fears, assure depositors and investors and what actions do they need to take going forward?
- Does the recent turmoil in the industry represent a buying opportunity for banks?
- Does the Fed's decision to backstop all deposits at Silicon Valley and Signature essentially guarantee all deposits at other banks?
- Will the Fed's Bank Term Funding Program sure up confidence in the banking system?
- What metrics should investors and regulators assess to determine if other banks could face pressure?
- How will this change regulatory exams? Will liquidity stress-testing become regular practice?
- Should banks dial back growth goals?
- What is the outlook for the industry as a whole as a result of the recent events?
Moderator
S&P Global Market Intelligence
Nathan Stovall
Head of FIG Research
Nathan Stovall, with 17 years' experience covering the banking sector, is a principal analyst for the FIG Research offering of S&P Global Market Intelligence. His primary responsibilities include covering and analyzing financial institutions, with a focus on the banking industry.
He is the author of the banking blog, Street Talk, and host of the podcast by the same name. His in-depth analysis of the banking industry, including a focus on community banks, can be found on SPGMI's Research & Analysis feature, which includes historical and forward-looking performance figures.
During his tenure, he has regularly covered and participated on the conference circuit, moderating panels and webinars focused on major issues facing banks. He has spoken as industry events as well, offering updates on bank fundamentals, market conditions and forecasts for what lies ahead. He has been quoted in a number of trade publications and the national press, including The Wall Street Journal, The New York Times, The Financial Times and has appeared on Fox Business News and NPR's Planet Money.
Nathan holds a Bachelor of Arts degrees from Washington & Lee University, where he majored in business journalism
Speakers
David Sandler
Piper Sandler
Managing Director, Co-Head of Financial Services Investment Banking
David Sandler is a managing director and co-head of investment banking in the financial services group at Piper Sandler.
David Sandler is a managing director and co-head of investment banking in the financial services group at Piper Sandler.
Previously, he was a principal and co-head of investment banking at Sandler O'Neill + Partners, L.P. He worked with the firm’s west coast clients in all aspects of strategic planning and franchise value enhancement, including asset/liability management, mergers and acquisitions and corporate finance. Sandler also advised the firm’s private equity clients on capital raising and depository strategy. He is a frequent lecturer at banking graduate schools, trade associations and industry conferences.
Sandler has been involved in a number of transactions for depository institutions, including Bridge Capital Holdings on its $474 million merger with Western Alliance; Wilshire Bancorp on its $1.0 Billion merger with BBCN Bancorp forming Hope Bancorp; Preferred Bank on its $100 million subordinated debt offering; and Western Alliance on its $150 million subordinated debt offering among others. Sandler received a bachelor’s degree in economics from the University of California, Los Angeles.
Christopher McGratty
KBW
Head of U.S. Bank Research
Christopher McGratty joined KBW in 2004 and was named Head of U.S. Bank Research in 2020. Previously he led the firm’s SMID-cap bank research team. Earlier in his career, he worked as a Financial Controller at Morgan Stanley from 2002-2004.
Christopher McGratty joined KBW in 2004 and was named Head of U.S. Bank Research in 2020. Previously he led the firm’s SMID-cap bank research team. Earlier in his career, he worked as a Financial Controller at Morgan Stanley from 2002-2004. Chris is regularly quoted in industry publications, including The Wall Street Journal, American Banker, Barron’s and The New York Times, and is often featured as a recurring guest on CNBC and Bloomberg TV. Chris received his BS degree from Villanova University in 2002, and holds a Chartered Financial Analyst designation as well.
Alston & Bird
Mark Kanaly
Alston & Bird
Partner
Mark Kanaly is co-chair of Alston & Bird’s Corporate Area, which includes its Corporate & Securities, Finance, Financial Services, Health Care, and Real Estate groups. Previously, Mark served as chair of the firm’s Partners Committee and chair of the firm’s Financial Services & Products Group. He represents corporate clients, with a focus on players in the financial services arena. Mark assists these companies with mergers and acquisitions, IPOs, public and private capital raising transactions, corporate governance, and a host of related regulatory matters.
Throughout the economic cycle, Mark has worked on some of the most innovative and recognized transactions in the country. Additionally, he regularly counsels boards of directors regarding strategic planning, regulatory entanglements, and internal corporate governance matters.
Mark is a nationally recognized speaker on various corporate topics, and his comments are regularly covered in the business press. Mark is listed as a leading attorney for Banking & Finance: Regulatory in Chambers USA: America’s Leading Lawyers for Business. He is also recognized by The Best Lawyers in America , for his work in Banking & Finance, Corporate, and Securities/Capital Markets Law, as well as being listed as Atlanta “Lawyer of the Year” for his work in Financial Services Regulation Law for 2025.
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