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Late last week, regional bank First Republic announced that it could no longer cover its deposits and obligations. This set off a 48-hour scramble on the part of the FDIC to secure the institution.
First Republic Bank was a commercial bank and provider of wealth management services headquartered in San Francisco, California, United States. It catered to high-net-worth individuals and operated 93 offices in 11 states, primarily in New York, California, Massachusetts, and Florida. [ 2 ]
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(Reuters) -The Federal Deposit Insurance Corporation (FDIC) is investigating potential misconduct by executives and board members of First Republic Bank, raising the prospect of stiff penalties ...
First Republic, which primarily serves wealthy customers on the East and West coasts, was the 14th-largest US bank as of Dec. 31. First Republic's advisers are arguing this deal would save the ...
First Republic Bank Corporation was an American bank based in Texas. Founded as the Guaranty Bank and Trust Company in 1920, [ 1 ] in 1922 it assumed the name Republic National Bank of Dallas. [ 1 ] Afterwards the bank acquired several banks and invested in others, and changed its name several times. [ 1 ]
Those with bets against First Republic have earned $1.37 billion year to date on a mark-to-market basis, according to S3 Partners. It is the most profitable short position among stocks thus far in ...
Flush with deposits from the well-heeled, First Republic saw total assets more than double from $102 billion at the end of 2019’s first quarter, when its full-time workforce was 4,600.