First Republic Bank's Deposit Outflows Lead to 50% Share Drop.
TL;DR
First Republic Bank's shares fell 50% after reporting a dramatic slump in deposits, leading to fears that it could be the third bank to fail after the collapse of Silicon Valley Bank and Signature Bank. The bank now faces tough options to turn around its business with the creation of a "bad bank" or asset sales possibilities. The bank has been reeling as it navigates the twin challenges of assuring customers their deposits remain safe and investors that it has liquidity to emerge from the crisis.
- First Republic Bank shares fall 50% after reporting dramatic slump in deposits The Guardian
- First Republic Bank's deposit outflows were worse than expected, says Wells Fargo's Jared Shaw CNBC Television
- First Republic lost $72 billion in deposits amid bank turmoil Yahoo Finance
- Morning Bid: Bank angst echo Reuters
- We'll see First Republic lose money for the next several quarters: Piper Sandler's Andrew Liesch CNBC Television
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Read on The Guardian