Lost your password?
Don't have an account? Sign Up

First Republic Stock Plunges 48%

Shares of First Republic are reeling again after the struggling lender on Monday reported a $100 billion drop in customer deposits during last month’s banking turmoil.

Tweet on First Republic 

Factset chart

The stock was temporarily halted for volatility as it fell about 48%, putting it just above $3 a share. It’s on pace for yet another record low, based on Dow Jones Market Data going back to 2010.

For the year, the stock is down more than 97%.

The declines come as federal regulators released their postmortems of their oversight of Silicon Valley Bank and Signature Bank today.

For more on why a buyer hasn’t emerged to rescue First Republic, read the Journal’s Telis Demos. As one analyst put it: “It might cost you $30 billion of capital to buy the bank for free.”


Image: First bank