First Republic Bank

The turmoil following the collapse of Silicon Valley Bank continued to spread Monday, with First Republic Bank shares falling a record 67% at the open ...

But its stock plunged more than 60% in premarket trading Monday despite the attempts to reassure customers about the strength of its business. First Republic ...

[eight times](https://www.nasdaqtrader.com/trader.aspx?id=tradehalts) in the first 45 minutes of trading despite the attempts to reassure customers about the strength of its business. worked overtime Sunday to reassure clients about the safety of its business after the collapse of Silicon Valley Bank last week sparked fears of contagion in the banking industry. ](https://www.barrons.com/market-data/stocks/frc)

Risk assets pared gains while bond yields tanked as emergency measures announced by U.S. authorities failed to assuage investor fears about banking sector ...

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Shares of First Republic Bank plunged in premarket trading, leading losses among regional banks, despite efforts by U.S. regulators to calm investors after ...

Among the other notable moves:\n\nWestern Alliance Bancorp's shares slid 68%\nPacWest Bancorp's stock tumbled 44%\nComerica's stock fell 23%\nZion Bancorporation's stock fell 27%\nFifth Third Bancorp's stock lost 10%\nCharles Schwab's shares lost 11%\nBank of America's stock fell 4.2%\nWells Fargo's stock slid 3.1%\n\nThe premarket moves extend a volatile stretch of trading for First Republic, which tumbled 29% in the final two sessions of last week. After the quick collapse of Silicon Valley Bank, in addition to the closures of Signature Bank and Silvergate Capital in recent days, investors have been dumping shares of banks that have potentially similar profiles.\n\nFirst Republic's customers are businesses and wealthy individuals on the coasts, many of whom were no longer content to leave their money in accounts that earned little yield when other high-interest alternatives exist. regulators to calm investors after the collapse of Silicon Valley Bank.\n\nFirst Republic shares were recently down 63% premarket after sliding more than 70% earlier.

First Republic Bank's (FRC) stock is down more than 60% in pre-market despite recent measures by U.S regulators to shore up confidence in the banking system ...

First Republic Bank shares plunged by about 60% in premarket trading on Monday even after the regional lender announced steps to shore up its balance sheet.

“In light of recent industry events, the last few days have caused uncertainty in the financial markets,” First Republic senior executives said in an email to clients viewed by CNN. “But it doesn’t change the fact that there’s still problems — you’re just basically buying time to sort the problems out in a better way.” The same protections would be in place for customers of Signature, a New York regional lender that folded when depositors were apparently spooked by SVB’s demise. “It’s a confidence-crisis risk,” he said. First Republic lists $213 billion in assets. First Republic shares fell more than 60% and were briefly halted for volatility.

As of the time of writing, equity shares of First Republic are off more than 65%, and trading has been halted as mentioned.

First Republic's stock fell 75 per cent, while Arizona-headquartered Western Alliance Bank was down 80 per cent. Trading in shares of both banks was halted due ...

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The stocks of other regional banks, including Zions, Pacific West and Western Alliance, also took a beating.

Kathy Hochul said Monday in a [tweet](https://twitter.com/GovKathyHochul/status/1635277077133008896). [2008](https://apnews.com/article/08aeb5a6c9d542ccb6d6154d4fa1e3a6) at the height of the financial crisis. In a statement on Sunday, CEO Mike Roffler said the bank "continues to fund loans, process transactions and fully serve the needs of clients." The bank's closure marked the largest failure of a financial institution since Washington Mutual in [regulators in New York shuttered Signature Bank](https://www.cbsnews.com/news/signature-bank-new-york-closed-silicon-valley-bank/). "No bank is immune, but this pressure will likely be most pronounced among banks with a larger mix of rate sensitive customers."

Even European bank stocks slumped despite analysts including at Deutsche Bank AG and Citigroup Inc said the SVB crisis had little bearing on the outlook for ...

CNBC reported Monday (March 13) that First Republic Bank Executive Chairman Jim Herbert told the network's Jim Cramer that the bank was meeting withdrawal ...

“This filing reiterates First Republic’s continued safety and stability and strong capital and liquidity positions,” the bank said in its Friday filing to the SEC. [filing](https://ir.firstrepublic.com/static-files/295faa27-f208-4936-81ff-6c8bfa0fb6b5) with the Securities and Exchange Commission (SEC) that its deposit base is well diversified, its liquidity position remains strong, and its investment portfolio is stable and accounts for less than 15% of total bank assets. [press release](https://news.firstrepublic.com/news-releases/news-release-details/first-republic-bank-strengthens-and-diversifies-liquidity) that it had gained access to additional liquidity from both JPMorgan Chase and the Federal Reserve Bank and that its capital and liquidity remained “very strong.” “First Republic’s capital and liquidity positions are very strong, and its capital remains well above the regulatory threshold for well-capitalized banks,” Herbert and First Republic Bank CEO and President [reported](https://www.cnbc.com/2023/03/13/frc-tells-cnbc-the-bank-isnt-seeing-that-many-depositors-leave-jpm-funding-working.html) Monday (March 13) that First Republic Bank Executive Chairman Jim Herbert told the network’s Jim Cramer that the bank was meeting withdrawal demands with the help of additional funding, was not seeing “massive” outflows and was experiencing “business as usual.” [stock](https://www.google.com/search?q=%22first+republic+bank%22+stock&rlz=1C1RXQR_enUS968US968&oq=%22first+republic+bank%22+stock&aqs=chrome..69i57j0i131i433i512j0i3j0i131i433i512j0i3l6.6478j1j4&sourceid=chrome&ie=UTF-8) was down about 64% Monday after the failure of two other banks: [Silicon Valley Bank on Friday](https://www.pymnts.com/digital-first-banking/2023/state-regulator-closes-silicon-valley-bank-and-appoints-fdic-receiver/) (March 10) and [Signature Bank on Sunday](https://www.pymnts.com/news/banking/2023/signature-bank-shut-down-and-placed-under-fdic-control/) (March 12).

The collapse of two major U.S. banks within days has put the spotlight on other mid-cap lenders' balance sheets, with a few of them rushing to calm ...

Uninsured deposits as % of total deposits - 51% Uninsured deposits as % of total deposits - 53% Uninsured deposits as % of total deposits - 58% with the biggest chunk of uninsured deposits: Uninsured deposits as % of total deposits - 62% Uninsured deposits - $25.1 billion Uninsured deposits as % of total deposits - 68% [collapse of two major U.S. Uninsured deposits - $37.6 billion Uninsured deposits - $31.1 billion Uninsured deposits - $45.5 billion Uninsured deposits - $119.5 billion

Will recent bank failures lead to contagion, or will the problem be contained? Speculative investors can bet on First Republic Bank (NYSE:FRC) if they're ...

On the other hand, it’s reassuring that the company has the backing of the Federal Reserve Bank and JPMorgan Chase. At the same time, it’s perfectly understandable if more cautious investors choose to stay far away from First Republic Bank and seek other financial stocks. Fortunately, there are reasons to believe — though there are no guarantees, of course — that First Republic Bank may weather the crisis. While this magnitude of volatility is happening, investors might not be able to assign a meaningful P/E ratio to First Republic Bank, and it’s hard to know whether the company’s [3.5% dividend yield](https://www.tipranks.com/stocks/frc/dividends) is reliable. In any event, First Republic Bank’s management insists that the company remains well-capitalized and financially sound. This doesn’t necessarily mean that everyone should invest in First Republic Bank right now. Investors are already aware of this, and the billion-dollar question is whether the company can continue and succeed as a going concern. The fallout from the SVB fiasco includes collateral damage, and First Republic Bank and its shareholders are sitting on heavy losses at the moment. [First Republic Bank stock declined around 62%](https://www.tipranks.com/stocks/frc) on Monday after already having lost substantial value on Thursday and Friday of last week. The question is: are you really willing to bank on a comeback with First Republic Bank? Regional bank stocks are sometimes considered to be a fairly safe bet. Speculative investors can bet on First Republic Bank (

I will have a look at First Republic Bank's finances, highlighting key consideration regarding FRC's balance sheet. Click here to see our take on FRC stock.

And accordingly, valued at a $12 - $15 billion market cap (given the level of volatility it is hard to pinpoint a reference), FRC is trading at a P/E of below x10--a bargain. I like to view First Republic Bank stock at $30/share as a very attractive bargain opportunity. In a previous article, I have tried to ["simply" explain](https://seekingalpha.com/article/4586743-svb-financial-collapse-explained) what happened to SVB Financial -- here is the abbreviated explanation: (Remember that the value/ price of a bond is inversely related to the interest rate level). And, reflecting on the events of the past few days, I would not rule out that First Republic Bank equity holders could lose every cent of their investment. Disclosure: I/we have a beneficial long position in the shares of FRC either through stock ownership, options, or other derivatives. Admittedly, solvency and liquidity is now the major consideration for every bank investor. Referencing the chart below, investors will note that SIVB's adjusted capital ratio dropped to "Zero," while FRC's respective ratio defends a level above 6% points. With that in mind, bank investors/ bargain hunters must ask one key question: to what extent did a bank expose itself to duration risk in its investment portfolio? But, due to exposure to municipal securities, analyst Joseph Wang pointed out that FRC doesn't benefit much from the FED's $25 billion The major risk asset (according to the current market narrative), investment securities, accounts for less than 15% of the bank's total asset base (about $31.6 billion). If you have ever wondered what a "blood on the street" investment opportunity looks like, well, this is it.

Shares of San Francisco-based First Republic Bank lost more than half their value, igniting fears that it may be the next bank to collapse.

"I feel confident enough that I'm not taking money out," Ken Routon of Campbell said. The worry over First Republic, the 14th largest bank in the U.S. There were multiple social media posts over the weekend showing people lining up at First Republic locations in Southern California to withdraw their money.

A bond syndicate banker in New York said there had been “extremely volatile moves in the bank space — we're seeing things as much as 20bp-40bp wider on the day.

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The short-term local currency bank deposit rating of Prime-1 and short-term counterparty risk assessment of Prime-1(cr) were also placed on review for downgrade ...

Alternatively, please see the Rating Methodologies page on [https://ratings.moodys.com](https://ratings.moodys.com) for a copy of this methodology. Further information on the UK endorsement status and on the Moody's office that issued the credit rating is available on The Global Scale Credit Rating on this Credit Rating Announcement was issued by one of Moody's affiliates outside the EU and is endorsed by Moody's Deutschland GmbH, An der Welle 5, Frankfurt am Main 60322, Germany, in accordance with Art.4 paragraph 3 of the Regulation (EC) No 1060/2009 on Credit Rating Agencies. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating. For ratings issued on a support provider, this announcement provides certain regulatory disclosures in relation to the credit rating action on the support provider and in relation to each particular credit rating action for securities that derive their credit ratings from the support provider's credit rating. First Republic's BCA and ratings could be downgraded if the bank's deposit base has eroded markedly, triggering asset sales, loss crystallization and a higher reliance on market funding. An upgrade of First Republic's ratings is unlikely given the current review for downgrade. The review for downgrade reflects the extremely volatile funding conditions for some US banks exposed to the risk of uninsured deposit outflows. An additional offset to these funding risks is the creation of Federal Reserve and Treasury Department's new Bank Term Funding Program (BTFP), offering loans of up to one year in length to banks and other eligible depository institutions pledging qualifying assets owned prior to the facility's announcement date. First Republic's long term local and foreign currency counterparty risk rating of A3, long-term local currency bank deposit rating of A1, long-term counterparty risk assessment of A2(cr), baseline credit assessment (BCA) and adjusted BCA of a3 were placed on review for downgrade. Such crystallization of losses, if it were to happen, could materially weigh on the bank's profitability and capital, which at the same date were modest compared to peers, with a return on asset of 0.78% and a tangible common equity (TCE) over risk-weighted asset ratio of 9.1%. New York, March 13, 2023 -- Moody's Investors Service (Moody's) has today placed all long-term ratings and assessments of First Republic Bank (First Republic) on review for downgrade.

Moody's put all long-term ratings of First Republic Bank on review, as the collapse of Silicon Valley Bank reverberates across the sector.