2023-05-17 11:48:34
In the US stock market on the 17th, regional bank stocks rose in following-hours trading before the start of regular trading.Deposits at Western Alliance Bancorp increased by more than $2 billion from the end of the previous quarter, which was well received, alleviating concerns regarding regional banks.
Western Alliance was up 8.5% as of 5:33 a.m. New York time. PacWest Bancorp is up 9% and Zions Bancorp is up 1.9%.
Western Alliance previously said deposits were $49.4 billion as of Wednesday, up $1.8 billion from the end of the first quarter. The latest data show that deposit balances increased by an additional $200 million between Sept. 9-12.
Original title:Western Alliance’s Deposit Growth Powers Regional Bank Rally
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