US bank stocks stabilized early Friday as a new set of earnings from regional lenders was solid, helping ease concerns over credit quality that sparked a sharp selloff.
The S&P Regional Banks Select Industry Index jumped as much as 1.7% Friday, with Zions Bancorp NA and Truist Financial Corp among the top performers. The modest rebound follows a 6.3% plunge on Thursday, led by Zions and Western Alliance Bancorp after they said they were victims of fraud on loans to funds that invest in distressed commercial mortgages.