The American financial industry has slipped into a crisis not seen since the global financial crisis of 2008. The Silicon Valley Bank (SVB) collapsed spectacularly earlier this month. The failure of the Signature Bank followed the collapse of SVB.
Both banks are now under the Federal Deposit Insurance Corporation (FDIC) control. With the banking system battered by bank failures, avoiding the First Interstate BancSystem, Inc. (FIBK) could be wise. Throughout this article, I have discussed the reasons I am bearish on this regional bank stock.
