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Regional bank stocks pare early gains to trade lower premarket, and big banks follow suit

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Regional bank stock pare early gains to trade lower premarket, while big banks follow suit

Regional banks pared their early gains to trade lower in premarket trade Wednesday, after Bloomberg reported that Bank of America had received more than $15 billion in customer deposits recently following the failure of three banks in the space of a week. First Republic Bank FRC was down 2.5%, shedding early gains. Zions Bancorp. ZION was down 5% and Western Alliance Bancorp. WAL was down 2.3%. The big banks also moved lower with JP Morgan Chase JPM down 2.3%, Citigroup C down 4.

... Regional banks pared their early gains to trade lower in premarket trade Wednesday, after Bloomberg reported that Bank of America had received more than $15 billion in customer deposits recently following the failure of three banks in the space of a week. First Republic Bank FRC was down 2.5%, shedding early gains. Zions Bancorp. ZION was down 5% and Western Alliance Bancorp. WAL was down 2.3%. The big banks also moved lower with JP Morgan Chase JPM down 2.3%, Citigroup C down 4.

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