Can someone with knowledge about banking tell us if this means doom for small and midsized banks?
I have heard they are vulnerable.
My understanding is that regional banks have heavy exposure to CRE.
Hopefully more knowledgeable FReepers will chime in.
I’m hearing that BIG banks (BOA and the like) are closing many branches. I think I heard north of 40 for BOA in a few weeks window.
I’ve moved fiat (not money) from BOA to my regional bank.
Bear in mind that no bank is safe from a systemic failure, where FDIC and the like are useless.
But, I think the big banks are the most vulnerable, and there is relative safety in small banks
All I know is that when I go to the bank these days. They barely have any employees. Maybe one teller open and a long line of people. No more than one person in all of those offices. Probably a mid sized banking chain. That tells me something is wrong.