Kansas City Banks Suffer EPIC Market Cap Hit After SVB Collapse

First and foremost . . .

If you don't understand what market cap is . . . Don't get worried . . . In all likelihood the money under your mattress will be fine.

However, for any elite locals slumming on TKC . . . Here's a worthwhile peek at how this drama is playing out on the local level . . .

As of market close Monday, UMB Financial has lost $1.35 billion in market capitalization since March 6. That's a 31.54% decrease in value — the most among publicly traded banks headquartered in the Kansas City area . . .

Commerce Banchshares, parent company of Commerce Bank, hasn't been hit nearly as hard, losing just 9.85% or $802 million from its market cap.

Leawood-based CrossFirst Bankshares Inc. (Nasdaq: CFB) has lost $114 million (-17.42% percentage decrease)in market cap since March 6.

Read more via www.TonysKansasCity.com link . . .

Bank failures wiped out $2.27B in value at UMB, Commerce, CrossFirst - Kansas City Business Journal

The sudden collapse of Silicon Valley Bank and Signature Bank - and accompanying concerns about the stability of the banking system in general - have driven down bank values across the industry. Two Kansas City-based bank holding companies have been at the forefront of concerns for regional banks. UMB Financial Corp.

Related reading . . .

Now that all banks are 'too big to fail,' disaster awaits

The biggest lesson from the financial sector in recent days? The alleged "fixes" put in place after the 2008 meltdown didn't do squat - and the feds are now poised to bail out everyone .

SVB employees blame remote work for bank failure

In a story in the Financial Times out Thursday, current and former Silicon Valley Bank employees cited the bank's commitment to remote work as one reason for its failure. Why it matters: In the aftermath of the collapse of the 16th biggest bank in the country everyone is trying to understand what happened.

SVB and First Republic's problems aren't going away. Here's why - and if you are at risk.

MoneyWatch Silicon Valley Bank's abrupt takeover by regulators on March 10 was followed by federal reassurances that all depositors - insured and uninsured alike - would get their money. Yet despite that guarantee, the turmoil in the banking industry has only grown, prompting an emergency cash infusion at another regional institution and a historic takeover of a "too big to fail" bank.

Developing . . .