Senators derided SVB's former CEO Gregory Becker at a hearing about the reasons for the failure of his bank. “It sounds a lot like ‘my dog ate my homework,’” one said

As part of its deal, all 84 First Republic branches in eight states – including  seven in Santa Clara County, 15 in San Francisco, six in San Mateo County, eight in the East Bay and 17 in Southern California – will reopen this morning as JPMorgan branches.

The April 21 downgrading of the credit ratings of 11 regional banks by Moody’s raised new doubts about their stability, while their leaders said the turmoil spurred by last month’s collapse of Silicon Valley Bank has passed.

Shares of Western Alliance Bancorp (WAL) – the parent company of San Jose’s Bridge Bank – took an 84% plunge in the first 90 minutes of trading, before rebounding to $23.09 per share by 1:30 EDT.