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Fly News Breaks for October 11, 2017
UMPQ, SIVB, BMRC
Oct 11, 2017 | 08:44 EDT
DA Davidson analysts Jeff Rulis and Gary Tenner say the Bank of Marin (BMRC) is among the regional banks with large exposure to wildfires in Northern California, with combined deposits in Napa and Sonoma counties accounting for nearly 23% of total bank deposits. DA Davidson conservatively estimates the bank's direct loans to the wine industry at about 5% of the total. They also highlighted SIVB Financial (SIVB) and Umpqua Holdings (UMPQ) as exposed.
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