Regional bank stocks fall amid sector woes, JPMorgan-First Republic deal

Yahoo Finance Live checks out bank stocks after Tuesday's closing bell as the industry continues to experience uncertainties tied to March's banking crisis.

Video transcript

AKIKO FUJITA: Yeah, Seana. Let's start there. Because that really did drive the losses today in the session. Pac West and Western Alliance along with other regionals finishing the day well in the red as investors show fear that the bank crisis is not over just yet.

This, of course, comes one day after JPMorgan purchased the bulk of First Republic in a deal that was designed to restore stability to the banking system after two months of turmoil. And as we were saying, Seana, earlier it did restore sort of confidence for one day and here we are today talking specifically about these regionals, not necessarily on any particular news, but it does point to just the jitters that still exist about another regional bank potentially failing.

SEANA SMITH: Yeah, certainly there are jitters out there. And like you pointed out at the top of the program. The moves in these two banks when it comes to Western Alliance and also Pac West comes on the heels of their recent earnings report, which shows that investors were confident here within these regional lenders that deposits actually did grow in the final weeks of the quarter and also that momentum continuing in the first few weeks of April.

So we'll see whether or not maybe there's some calmness maybe restored here within this sector over the next couple of trading days because certainly today is a totally different picture, totally different scenario than what we were talking about at this time yesterday when we were hearing from Jane Fraser, when we were hearing from Jamie Dimon, just among some of the leaders there of the larger banks saying that this part of the crisis was behind us at least for now.