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The 2007 financial crisis was the largest shock to the financial markets not only to the United States but the world as a whole since 1930. Lack of information and confusion in financial markets causes sharp declines in banks capitalization. The link between stock price behavior and the content of social disclosure is lacking in the literature and there is no clear understanding whether they are valued or disregarded by financial markets. CSR is the voluntary interaction between the firm and its stakeholders through addressing their social and environmental concerns with business activities. This paper contributes to the literature by drawing conclusions on whether CSR disclosure, which communicates firm involvement and level of commitment to society, shows improvement on banks’ stock prices. Banks’ social behavior is equally important to investors and customers risk assessment on one hand, and to regulators …