Western Alliance shares plummet 80% as bank stocks take a beating after SVB's failure

• Western Alliance Bancorp shares plunged more than 80% in premarket Monday after SVB's failure. 
• The Arizona lender tried to ease worries last week when it made a statement about its "strong" finances. 
• First Republic, PacWest and other small lenders are also seeing shares fall as investors fret about banks' health.

Shares in Western Alliance Bancorp are getting hammered as smaller lenders come under pressure after the failure of Silicon Valley Bank.