Regional bank are still not out of the woods, regional bank issues from 2023 aren’t fully resolved because their earnings may expose critical weakness. /p>
Some of regional banks are still overly reliant on industry deposits, have a lot of concentrated commercial real estate exposure, and then the larger picture really is the potential instability of their uninsured deposits.
Regional banks are having a tough year so far. The SPDR S&P Regional Bank ETF (KRE) is down almost 13%, and only four of its members are positive for 2024.
The biggest laggard in the KRE is New York Community Bancorp which has tumbled more than 71% this year. Metropolitan Bank Holding Corp, Kearny Financial, Columbia Banking System and Valley National Bancorp are down more than 30% in that time period.
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