The stocks of regional banks bounced back in early March 14 trading after facing pressure following the collapse of Silicon Valley Bank and Signature Bank.
In the first three hours of trading March 14, First Republic Bank was up more than 50% after slumping about 60% the day before. The KBW Nasdaq Bank Index increased more than 4%.
Western Alliance Bancorp. rose about 45%, Customers Bancorp Inc. climbed about 12%, and Metropolitan Bank Holding Corp. jumped about 50%.
Trading of at least a dozen bank stocks was halted March 13 amid volatile conditions, and the most-affected banks were First Republic Bank, Western Alliance, Customers Bancorp and Metropolitan Bank Holding.
The shares of PacWest Bancorp, one of the banks facing questions about liquidity pressure because of its venture capital exposure, are also up about 60%. In a March 12 note, Piper Sandler analyst Matthew Clark said the company has enough liquidity to withstand a runoff in its venture capital deposits.
Charles Schwab Corp., whose stock fell in March 13 trading, ticked up about 10% on March 14.