In the wake of the Silicon Valley Bank collapse, the consensus is that Maine banks are well-capitalized and diversified, with sufficient buffers to prevent the panicked run that unraveled SVB. But the outlook gets murky if the current turmoil escalates into a wider crisis and sparks a recession.
As markets were rattled Monday by the failure of California's Silicon Valley Bank, Maine's top banking watchdog offered assurances that there's no danger of contagion here.