Outside the Box: Bank stocks have dodged a bullet. They may not be so lucky next time.

This has not been a good year for U.S. banks. Silicon Valley Bank and Signature Bank saw depositor runs in early March, which were soon followed by regulators seizing both banks and wiping out shareholders. Within two months, First Republic Bank also saw a depositor run, and was itself seized by regulators.

If not for the swift and robust regulatory response – which saw the Federal Deposit Insurance Corporation (FDIC) ensure all deposits at both Silicon Valley and Signature banks in mid-March — the country’s economic situation…