Regional Banks Try to Calm Investors After Jittery Stock Plunge

US regional bank executives sought to calm shaken investors Friday, after revelations of new loan charge-offs linked to fraud sparked the biggest selloff in six months on Thursday.

“Overall credit quality is strong,” Truist Financial Corp. Chief Executive Officer Bill Rogers said on a conference call. “We have seen in the market some I would say today sort of idiosyncratic and uncorrelated events,” he said, adding that his bank is being “hyper vigilant” about credit risk.