Full List of Bank Shares That Halted Trading as Panic Spreads

On Monday morning, trading in the shares of a number of banks was halted as panic spread following the collapse of Silicon Valley Bank.

The Nasdaq Trader website published a list of bank shares that were placed under a temporary regulatory halt. Newsweek has listed them below.

Each bank share had been hit with a volatility trading pause, a kind of circuit-breaker that automatically halts trading for a short time when a share's price swings too rapidly. At the time of writing, some of these shares had plunged by more than 60 percent.

• Western Alliance Bancorporation Common Stock (was halted and resumed several times, was down nearly 47% at close of the day)
• PacWest Bancorp (was halted and resumed several times, was down 21% at the close of the day)
• First Republic Bank Common Stock (was halted and resumed several times, was down nearly 62% at the close of the day)
• Zions Bancorporation N.A. (was halted and resumed several times, was down nearly 26% at the close of the day)
• OceanFirst Fnl Dp Sh Pfd A - Preferred Stock (trading resumed by 11:50 a.m. ET, was down nearly 14% at the close of the day)
• Customers Bancorp, Inc. Common Stock (was halted and resumed several times, was down nearly 24% at the close of the day)
• East West Bancorp, Inc. (was halted and resumed several times, was down more than 17% at the close of the day)
• Metropolitan Bank Holding Corp. Common Stock (was halted and resumed several times, was down nearly 44% at the close of the day)
• First Horizon Corporation Common Stock (was halted and resumed several times, was down more than 20% at the close of the day)
• Regions Financial Corporation Common Stock (was halted and resumed several times, was down roughly 7% at the close of the day)
• Comerica Incorporated Common Stock (was halted and resumed several times, was down more than 27% at the close of the day)
• Bank of Hawaii Corporation Common Stock (was halted and resumed several times, was down more than 18% at the close of the day)
• KeyCorp Common Stock (trading resumed at 10:31 a.m. ET, was halted again at 10:33; trading resumed by 10:38 a.m., was down more than 27% at the close of the day)
• Customers Bancorp, Inc. 5.375% Subordinated Notes Due 2034 (was halted and resumed several times, was down 18% at the close of the day)
• Macatawa Bank Corporation (trading resumed at 9:54 a.m. ET. It was briefly halted again at 9:55 before resuming at 10 a.m., was down 4.5% at the close of the day)
• Texas Capital Bnc Dpsh 5.75 Ps - Preferred Stock (trading resumed by 9:57 a.m. ET. It halted again at 9:59 before resuming at 10:09 a.m., down more than 6% at the end of the day)
• United Community Bk Dep (trading resumed by 10:03 a.m. ET, was down more than 6% at the end of the day)
• The Charles Schwab Corporation Common Stock (was halted and resumed several times, was down more than 11% at the close of the day)
• Coastal Financial Corp Cm St (trading resumed by 9:41 a.m. ET, was down nearly 16% at the close of the day)
• Huntington Banc Dep Shs J (trading resumed by 9:50 a.m. ET, was down nearly 17% at the close of the day)
• Magyar Bancorp Inc. (trading resumed by 9:35 a.m. ET, was down more than 6% at the close of the day)
• Macatawa Bank Corporation (trading resumed by 9:54 a.m. ET, halted at 9:55 a.m. before resuming by 10 a.m., was down more than 4% at the close of the day)

A spokesman for First Republic Bank, whose shares as of 1:08 p.m. ET had fallen 64 percent, said: "We're continuing to fully serve the needs of our clients by opening accounts, making loans, executing transactions and delivering exceptional service at our offices and online."

A spokesperson for Charles Schwab directed Newsweek to a monthly activity report published today from Chief Financial Officer, Peter Crawford.

"Schwab's business continues to perform exceptionally well," the activity report said in part. "We have access to significant liquidity, including an estimated $100 billion of cash flow from cash on hand, portfolio-related cash flows, and net new assets we anticipate realizing over the next 12 months. We believe we have upwards of $8 billion in potential retail CD issuances per month, plus over $300 billion of incremental capacity with the Federal Home Loan Bank (FHLB) and other short-term facilities – including the recently announced Bank Term Funding Program (BTFP)."

As of 1:22 p.m. ET, shares of Charles Schwab bank had fallen by 10.61 percent.

Newsweek reached out to Western Alliance, Zions Bancorp. and East West Bank for comment via email.

The news on Monday comes shortly after the collapse of Silicon Valley Bank last week.

In a statement, the Federal Deposit Insurance Corporation (FDIC) said: "Silicon Valley Bank, Santa Clara, California, was closed today by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect insured depositors, the FDIC created the Deposit Insurance National Bank of Santa Clara (DINB). At the time of closing, the FDIC as receiver immediately transferred to the DINB all insured deposits of Silicon Valley Bank."

According to Investopedia, trading halts are short stoppages across numerous exchanges. "Trading halts are typically applied ahead of a news announcement, to correct an order imbalance, or as a result of a large and abrupt change in the share price," Investopedia states.

On Sunday, the U.S. Department of Treasury, the FDIC and the Federal Reserve issued a joint statement addressing the collapse of the Silicon Valley Bank.

"Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system. This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth," the statement said. "We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority. All depositors of this institution will be made whole. As with the resolution of Silicon Valley Bank, no losses will be borne by the taxpayer."

"The U.S. banking system remains resilient and on a solid foundation, in large part due to reforms that were made after the financial crisis that ensured better safeguards for the banking industry. Those reforms combined with today's actions demonstrate our commitment to take the necessary steps to ensure that depositors' savings remain safe," the statement added.

Correction: 3/13/23, 4:58 p.m. ET: This story was updated to correctly list the Texas Capital Bank shares placed under a temporary regulatory halt as Texas Capital Bnc Dpsh 5.75 Ps, the preferred shares, not its common stock.

Update: 3/14/23, 9:02 a.m. ET. This story was updated to include that the OceanFirst Fnl Dp Sh Pfd A was a preferred stock.