State of the State Mid-Year 2023: Banks reacting to the Fed

by Steve Brawner (BRAWNERSTEVE@MAC.COM)

Three high-profile bank failures earlier this year have not spread to the state. Meanwhile, banks are having to respond to rapidly rising interest rates. Overall, the state of banks in Arkansas is “stable but reacting.”

The U.S. banking system got a scare earlier this year when Silicon Valley Bank in Santa Clara, Signature Bank in New York, and First Republic Bank in San Francisco failed. So far, the fallout has not spread.

“We just did not see any of that turmoil that happened with those large institutions,” said State Bank Commissioner Susannah Marshall. “We did not see that here in Arkansas.”

https://talkbusiness.net/2023/08/state-of-the-state-mid-year-2023-banks-reacting-to-the-fed/