trending Market Intelligence /marketintelligence/en/news-insights/trending/Gu7NnBf3ptGd2-MauS0vbw2 content esgSubNav
In This List

Fitch completes peer review of US midtier regional banks

Podcast

Street Talk | Episode 94: Recessionary fears in '22 overblown, Fed could overtighten

Blog

Investment Banking Essentials Newsletter April Edition - 2022

Blog

Banking Essentials Newsletter April Edition - 2022

Blog

Investment Banking Newsletter April 2022


Fitch completes peer review of US midtier regional banks

After completing its review of its U.S. midtier regional bank peer group which generally covers banks with assets between $10 billion and $50 billion Fitch Ratings downgraded UMB Financial Corp. and revised the rating outlook to stable from negative.

Specifically, the rating agency downgraded UMB Financial's long-term issuer default rating to A from A+, and the viability rating to "a" from "a+". The rating agency affirmed the Kansas City, Mo.-based company's short-term issuer default rating at F1.

Fitch also affirmed the long-term and short-term issuer default ratings of BOK Financial Corp., at A/F1, and First Horizon National Corp., at BBB-/F3. Fitch revised the outlook for BOK Financial to stable from negative and First Horizon National to positive from stable.

Fitch also affirmed Cathay General Bancorp's BB+ long-term issuer default rating and "bb+" viability rating, and First National of Nebraska Inc.'s BBB- long-term issuer default rating and F3 short-term issuer default rating. Fitch kept positive outlooks for each.

Fitch also affirmed the long-term and short-term issuer default ratings and maintained stable outlooks for nine other banks within the midtier regional peer group — BankUnited Inc., at BBB/F2; East West Bancorp Inc., at BBB/F2; First Republic Bank, at A-/F1; Fulton Financial Corp., at BBB+/F2; Hilltop Holdings Inc., at BBB/F2; Synovus Financial Corp., at BBB-/F3; TCF Financial Corp., at BBB-/F3; Trustmark Corp., at BBB+/F2; and Wintrust Financial Corp., at BBB/F2.