Bank stocks continue to sink and that shows the turmoil hasn't faded yet, Jim Bianco says

• Bank stocks still remain under pressure and that signals the sector's turmoil hasn't ended yet, Jim Bianco said.
• Financial stocks faced a rout over the past month following the collapses of Silicon Valley Bank and Signature Bank.
• Regional banks in the US need to offer higher deposit rates to stop outflows, according to Bianco. 

The selloff in financial stocks triggered by last month's multiple lender failures is still continuing and that signals the banking turmoil isn't over yet, Wall Street analyst Jim Bianco said.