WGA Bank Top 100+ | Large Banks Retreat, Small Banks Rise
The big story nobody is discussing is the fact that large banks led by JPM, BAC and TFC continue to sell off briskly
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The Institutional Risk Analyst
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Banks | Markets | Finance
R. Christopher Whalen
Jul 37 min read
Who Leads the Asset Gatherers? | SCHW, MS, GS, AMP, RJF & SF
The larger banks led the way in January and February, but today the top 25 names in terms of total return include many smaller banks.
594 views
R. Christopher Whalen
Feb 410 min read
Assume Loss Given Default > 100% | PennyMac & Western Alliance Bank
Q: What do Silicon Valley Bank, First Republic Bank, Signature Bank and New York Community Bank have in common? Auditor, KPMG.
2,610 views
R. Christopher Whalen
Sep 18, 20237 min read
Does PacWest + Banc of California + Warburg Pincus = Value?
The Q2 2023 disclosure for PACW suggests an institution that is bleeding cash and operating in extremis...
648 views
R. Christopher Whalen
Aug 9, 20235 min read
Update: Western Alliance Bancorp
With industry losses on every loan closed well north of 200 bp, you might ask yourself why WAL would still be buying conventional loans.
789 views
R. Christopher Whalen
May 17, 20235 min read
Banks, Commercial Real Estate & Credit
The Fed's 5.5% increase in short-term interest rates has thrown the pricing for trillions of dollars in real estate into disarray.
1,124 views
R. Christopher Whalen
May 15, 20236 min read
Fed Asymmetry Threatens Credit Crisis
The price volatility injected into markets by the Fed is a primary reason why the FDIC cannot easily find buyers for smaller banks.
3,858 views
R. Christopher Whalen
May 4, 20234 min read
Banks, Interest Rates & Fed Chairs
Imagine how President Joe Biden will react if Chair Powell needs to announce formal limits on access to US bank deposits.
2,416 views
R. Christopher Whalen
Apr 30, 20236 min read
Update: Mr. Cooper & PennyMac Financial
Both PFSI and COOP are navigating the current market well, but we have questions about where the former is headed.
1,320 views
R. Christopher Whalen
Apr 19, 20237 min read
The Bank Deposit Run Is Not Over
The funding crisis affecting US banks is not over and very definitely not limited to smaller banks.
4,569 views
R. Christopher Whalen
Mar 21, 20235 min read
Winners & Losers in the New Gilded Age
Mark Twain called Washington ''the grand old benevolent National Asylum for the Helpless'' in his classic "The Gilded Age."
1,766 views
R. Christopher Whalen
May 23, 20227 min read
Equity Market Valuations & Quantitative Tightening
The reduction in the Fed's balance sheet is the largest ever margin call on equity exposures of all descriptions.
1,004 views
R. Christopher Whalen
Apr 22, 20226 min read
Update: Western Alliance Bancorp (WAL) and Silvergate Corp (SI)
There are virtually no conventional lenders in the US today that are profitable when the sell a loan into the secondary market.
396 views
R. Christopher Whalen
Oct 22, 20215 min read
Profile: Western Alliance Bancorp (WAL)
WAL is one the best performing small banks in the US based upon equity market valuations, profits and growth rates
285 views
R. Christopher Whalen
Oct 19, 20218 min read
Interview: Tom Showalter on Perfecting the Lending Process
We speak with a revolutionary in the world of lending, Tom Showalter, Founder and CEO of Candor Technology.
587 views
R. Christopher Whalen
Oct 12, 20216 min read
Bank Earnings Setup: Rebound to 2020
Many of the better managed financials that we track have become sellers of assets rather than buyers in the past several months.
319 views
R. Christopher Whalen
Sep 7, 20215 min read
Banks & REITs Fly as Fundamentals Weaken
If we told you that a group of banks and REITs outperformed fintech stocks during the first nine months of 2021, what would you say?
387 views
R. Christopher Whalen
Jun 3, 202110 min read
The IRA Bank Book Q2 2021: Lower Earnings Ahead
If you back reserve releases out of Q1 2021 bank results, revenues and earnings were down and trend is headed lower due to QE
354 views
R. Christopher Whalen
Apr 12, 20216 min read
Forbearance, Shrinking NIM & Prepayments Menace US Financials
Simply stated, US banks are twice as expensive as they were a year ago looking at earnings and assets....
886 views
R. Christopher Whalen
Feb 22, 20215 min read
Western Alliance + AmeriHome = Big Possibilities
We have long advocated the idea of an independent mortgage bank (IMB) combining with a strong regional lender
615 views
Christopher Whalen
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