Investors Optimistic as Regional Banking Crisis Appears to Subside
Four months ago, Western Alliance (WAL) was in the throes of a crisis as depositors fled after the fall of Silicon Valley Bank. This week, executives made it sound like that drama was in the past.
“I don’t think there’s any permanent damage done,” CEO Kenneth Vecchione told analysts after reporting that deposits at the Phoenix-based bank had risen 7% in the second quarter and would likely rise again in the third.
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