, which have been at the heart of the sell-off in regional banks, saw the steepest drop in deposits in the first quarter after First Republic, according to S&P Global Market Intelligence data.
His outlook on regional banks is neutral as deflated valuations, relatively strong capital levels, and resilient credit quality are countered by fears of deposit outflow, slowing loan growth and big exposure to struggling office real estate.
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PacWest stock price soars as lender says business is 'sound'PacWest climbs 30% to lead a rebound in regional bank stocks after the lender says its business is 'fundamentally sound'
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