WAL reported earnings AH today. First of the real beaten down regionals. They murdered it. Over 35% net interest margin gain YoY. The bank doomers were afraid they were going to take big hits in this. They killed in the thing we were told would end them. They also lost a tiny number of deposits after flows reversed within a week of SIVB.
EPS beat, revenue barely missed. They had net inflows for the quarter. That's the thing. SIVB couldn't even make them negative on the quarter.
I hold EWBC, RF, and ZION and should have just gone for the most degen choice possible. None of these banks are going under. Can't wait for the rest of bank earnings this week. FRC might have a 40% day with its short interest and institutional ownership.
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