2024 bank failure predictions

Just like the bank failures of last year the majority were related to crypto exposure. Where fraud is rampant and withdraws can be quick.

I would not expect the shakeup like last year where all 3 of the giant crypto banks all failed. Signature Bank (SBNY), Silvergate, and Silicon Valley Bank.

Probably the most obvious one for this year is Cross River Bank. Massive exposure to what is left of the crypto space via Coinbase/USDC. Under investigation for massive PPP fraud. FDIC has already issued a consent order against them for unsafe banking practices, especially related to their fintech business.

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I’ll start by calling for the downfall of Truist.

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I work for an insurance broker owned by Truist. We are about to get sold off because they need the money to raise liquidity. It’s not a secret. It’s in all of the trade journals.

Anyone holding regional and smaller bank stock is asking for pain.

I have scoured quarterlies and listening to numerous quarterly conference calls. All these small sized publicly traded banks are staring down both barrels of the financial shotgun.

If you hold the stock of these smaller banks, sell, sell, sell. The CRE in the portfolios is complete garbage. These banks got greedy and were stupid….and made bad, bad credit decisions.

Also, the leadership are usually dumb and have no real experience. Listen to a damn quarterly conference call of any of these banks….you will pull your money so quick.