First Republic Bank's Shares Surge Amidst Rescue Talks with U.S. Officials

Shares of First Republic Bank rose by 8% in premarket trading after reports emerged that the FDIC, Treasury Department, and Federal Reserve were in talks with banks and private equity groups to find a rescue solution for the struggling lender. The talks come as the bank's shares have plummeted, and sources say that private equity groups have been involved in the discussions to try to keep the bank afloat.