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...
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The Institutional Risk Analyst
© 2003-2023 | Whalen Global Advisors LLC All Rights Reserved in All Media | ISSN 2692-1812
Banks | Markets | Fintech
R. Christopher Whalen
- Aug 9
- 5 min
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.
747 views
R. Christopher Whalen
- May 17
- 5 min
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.
1,116 views
R. Christopher Whalen
- May 15
- 6 min
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.
3,804 views
R. Christopher Whalen
- May 4
- 4 min
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.
2,411 views
R. Christopher Whalen
- Apr 30
- 6 min
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.
1,214 views
R. Christopher Whalen
- Apr 19
- 7 min
The Bank Deposit Run Is Not Over
The funding crisis affecting US banks is not over and very definitely not limited to smaller banks.
4,547 views
R. Christopher Whalen
- Mar 21
- 5 min
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."
1,666 views
R. Christopher Whalen
- May 23, 2022
- 7 min
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.
996 views
R. Christopher Whalen
- Apr 22, 2022
- 6 min
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.
353 views
R. Christopher Whalen
- Oct 22, 2021
- 5 min
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
223 views
R. Christopher Whalen
- Oct 19, 2021
- 8 min
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.
577 views
R. Christopher Whalen
- Oct 12, 2021
- 6 min
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.
316 views
R. Christopher Whalen
- Sep 7, 2021
- 5 min
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?
376 views
R. Christopher Whalen
- Jun 3, 2021
- 10 min
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
349 views
R. Christopher Whalen
- Apr 12, 2021
- 6 min
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....
846 views
R. Christopher Whalen
- Feb 22, 2021
- 5 min
Western Alliance + AmeriHome = Big Possibilities
We have long advocated the idea of an independent mortgage bank (IMB) combining with a strong regional lender
597 views
R. Christopher Whalen
- Oct 12, 2020
- 7 min
Top Five US Banks: Q3 2020 Earnings Setup
There is a reason why the smart money on Wall Street is creating new strategies focused on non-performing loans...
724 views
Christopher Whalen
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