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The Advocate
Tuesday, March 14th, 2023
 
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Louisiana bankers see few parallels between Silicon Valley Bank collapse, local market

by Adam Daigle | Acadiana business editor​ ​ ​

Good morning, Acadiana business news readers. Let's get down to the business news of the day.

The collapse Friday of Silicon Valley Bank, which sent shares of many regional banks tumbling Monday as it sent shockwaves through financial markets, overtook New Orleans' First NBC Bank as the largest U.S. bank to fail since the financial crisis of 2008.

But even as the failures of SVB and New York-based Signature Bank, which collapsed over the weekend, inevitably recalled the $1 billion collapse of First NBC, Louisiana bank executives and economists said there were few parallels between the local bank failure in 2017 and the recent demise of SVB and Signature.

More importantly, they said there is little reason to worry about the viability of Louisiana’s community and regional banks. 

You can read the full story here. 

Have a great day.

 
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This Broussard dessert shop will open another location in south Lafayette

Emmy’s Ice Cream Bar, which opened in late 2020, will open a second location in south Lafayette possibly next month. Read more

Q&A with 20 Under 40 honoree Corey McCoy: 'Our company has grown quickly since we started in the backyard'

Editor's note: In partnership with The Acadiana Advocate, the705 is recognizing its annual Top 20 Under 40 Acadiana Leadership Award honorees, presented by Advancial Federal Credit Union. Honorees will be recognized at a March 24 banquet. For tickets, visit bit.ly/Aca20under40.  Read more

Louisiana adds 37,600 jobs in January, thanks to gains in New Orleans, Baton Rouge

Louisiana had 37,600 more jobs in January than it did a year earlier, thanks to significant gains in New Orleans and Baton Rouge. Read more

 
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