The article is behind a paywall. The earnings reports are not good. They are troubled. I have not had time to dig in yet.
Here’s a snippet:
2023 bank crisis is over, but the worst may be yet to come for some regional and community lenders.
Profits dropped sharply at regional banks in the fourth quarter, including at the bigger ones that have generally fared better than their smaller peers. Net income was down roughly 90% from a year earlier at
, around 70% at
and more than 40% at
swung to a loss.
Midsize players also struggled. Net income was down around 90% at
and more than 50% at
. The Federal Reserve is positioned to end its aggressive campaign to curb inflation, which could offer some relief to banks after interest rates hit the highest levels in decades. But recent uncertainty around potential rate cuts has muddled the outlook.
I deleted this post to put it up as a thread of its own.