Banks in Texas like Comerica are being cautious but say they have a better business model than Silicon Valley Bank.
sent ripples through the banking world, causing stocks like Comerica’s to fall as investors looked to guard themselves against a potential domino effect.
Banks that are focused on other struggling industries, such as commercial real estate loans at a time when office space and occupancy rates haven’t fully recovered from the COVID-19 pandemic, are at risk, he said. But banks that are well diversified will likely pull through the tough economic environment, Sadka said.
“Texas banks are well-capitalized, asset quality is solid and nonperforming loans are at historic lows, so you can have confidence in your community bank and banks of all sizes,” he said.Dallas-based Vista Bank, which has more than $1.5 billion in assets, is continuing to grow deposits in spite of the collapse, said its CEO John Steinmetz.
Dallas-based Comerica’s stock fell 35% in the past five days but gained nearly 4% on Tuesday, showing signs of recovery. The SVB shutdown seems to be a unique case rather than an issue with the overall health of the U.S. banking system, said Comerica spokeswoman Carmen Branch. “The only liquidity you have in a crisis is the liquidity you bring to the crisis, and so you better have some,” Green said.
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