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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.
JPMorgan did not assume First Republic’s corporate debt or preferred stock, meaning institutional investors will not be a made whole. One analyst expects common shareholders to get wiped out, too.
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A sign to a First Republic Bank location is shown in San Francisco, Wednesday, April 26, 2023. ... By Friday, First Republic's stock had dropped to $3.50, down 97% for the year. ... 2025 climate ...
The stock of First Republic (FRC) plunged 49% Tuesday after the bank surprised investors and analysts by revealing an outflow of more than $100 billion in deposits in March.The market reaction ...
The March 10 failure of Silicon Valley Bank put First Republic under tremendous investor pressure, and an infusion last week of $30 billion in deposits from 11 other banks didn’t stop the slide ...
First Republic Bank shares fell a record 62% on Monday to close at $31.21 each, despite measures by U.S. regulators to shore up confidence in the banking system following the collapse of Silicon ...
The $30 billion 11 banks injected into embattled First Republic Bank in March wasn't enough to prevent it from crashing. On May 1, JPMorgan Chase acquired most of the assets and "assumed the ...