Regional banks were among the worst-performing US bank stocks in May, as the collapse of First Republic Bank and another Federal Reserve rate hike helped propel lenders to a third straight month of share losses.

The median May total return of negative 6.0% for major exchange-traded banks followed April's negative 5.4% and March's negative 17.2%, according to data compiled by S&P Global Market Intelligence. The S&P US BMI Banks index lost 4.8%, while the S&P 500 eked out a 0.4% gain.

First Foundation Inc., PacWest Bancorp, and Dime Community Bancshares Inc. were among regional banks to lose more than 20% after the failure of First Republic renewed concerns about the strength of the sector and the Fed raised its benchmark interest rate above 5% for the first time in nearly 16 years. Memphis, Tenn.-based First Horizon Corp. also nosedived after the collapse of its planned combination with Toronto-Dominion Bank.

New York-based Valley National Bancorp, Rockland, Mass.-based Independent Bank Corp. and Bethesda, Md.-based Eagle Bancorp Inc. were among other regional banks to suffer share losses. Regional banks hold between $10 billion and $100 billion of assets.

Worst-performing stocks

For the second consecutive month, HomeStreet Inc., a Seattle-based community bank, topped the worst-performing bank stocks list with a return of negative 45.4%.

First Horizon was second with a 41.3% loss. The company's planned merger with Toronto-Dominion Bank was scrapped due to uncertainty about regulatory approval.

PacWest had the fifth-worst May return at negative 36.3%. The shares slumped after First Republic's downfall and again after Beverly Hills, Calif.-based PacWest disclosed additional, sharp deposit outflows. There was a stock rebound following PacWest's agreement to sell real estate construction loans.

First Foundation recorded a return of negative 38.0%, with Dime Community, Valley National, Independent Bank and Eagle Bancorp all posting returns of about negative 21%.

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Merger partners Camp Hill, Pa.-based LINKBANCORP Inc. and Salisbury, Md.-based Partners Bancorp suffered returns of negative 24.1% and negative 26.3%, respectively.

Best-performing stocks

Raleigh, NC-based First Citizens BancShares Inc., the acquirer of Silicon Valley Bridge Bank NA, led the best-performing stocks with a return of 23.9%. Still, during the month, First Citizens disclosed that it logged billions in deposit outflows by Silicon Valley customers after the acquisition, and that it expects runoffs to continue through yearend.

Humble, Texas-based Third Coast Bancshares Inc. ranked second with a 16.1% return, followed by Grand Forks, ND-based Alerus Financial Corp. with a 15.8% return.