Shares of U.S. regional banks rose in premarket trading on Tuesday after suffering double-digit losses over the past few days following the biggest bank collapse since the 2008 global financial crisis.

The collapse of Silicon Valley Bank and Signature Bank sent shockwaves through global markets, particularly hammering banking sector shares, despite assurances from U.S. President Joe Biden and other policymakers.

First Republic Bank rose 21% to $37.50, a day after hitting a record low of $17.53. Rating’s agency Moody’s said it was reviewing the U.S. regional bank for a downgrade.

Western Alliance Bancorp, Citizens Financial Group, KeyCorp, Comerica Inc, Fifth Third Bancorp, Truist Financial Corp and Zions Bancorp jumped between 10% and 30%.

The S&P 1500 regional banks sub-industry index has tumbled 20% in the past three sessions.

Some industry executives and advisers believe small lenders could be forced to seek saviors if a rout in their stocks does not let up.

First Republic dives as fresh financing fails to soothe deposit outflow fears

“In order to minimize the risk of deposit outflows, many smaller banks may be forced to further increase deposit rates (and) this is not good for any bank’s profitability,” said UBS Global Wealth Management Chief Investment Officer Mark Haefele in a note.

“Though those banks with higher capital ratios, smaller pools of securities relative to total assets, strong brands, and diversified funding sources should be better able to weather the current market dynamics.”

A wave of customers have applied to shift their accounts to large U.S. banks such as JPMorgan Chase & Co and Citigroup Inc from smaller lenders after the collapse of Silicon Valley Bank, the Financial Times reported.