It comes as no surprise that dozens of banks nationwide reported losses for the first quarter of 2020, for the first time since 2017. The losses came in part because financial institutions have been building their reserves, according to Gary Tenner, Institutional Research Analyst for D.A. Davidson. Tenner addressed the reserves and the potential for second-half recovery in “More than 40 US banks post net losses in Q1,” an S&P Global article written by Zachary Fox.
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