First Republic Bank share price

2023 - 3 - 13

first republic bank stock

Post cover — Image courtesy of "Reuters"

First Republic tumbles as fresh financing fails to soothe deposit ... (Reuters)

First Republic Bank's shares more than halved in premarket trading on Monday as news of fresh financing failed to reassure investors days after SVB ...

[(BAC.N)](https://www.reuters.com/companies/BAC.N) dropped 6.51%, Citigroup Inc [(C.N)](https://www.reuters.com/companies/C.N) fell 5.42% and Wells Fargo [(WFC.N)](https://www.reuters.com/companies/WFC.N) slid 6.93%, while [lenders in Asia and Europe](/markets/asia/asian-bank-stocks-tumble-us-systemic-concerns-prevail-2023-03-13/) plunged too. The question is at what point do they become self fulfilling," McGratty said. [(.KRX)](https://www.reuters.com/quote/.KRX) plunged 11.40%, underperforming the S&P 500 banking index's [(.SPXBK)](https://www.reuters.com/quote/.SPXBK) 8% fall. [(WAL.N)](https://www.reuters.com/companies/WAL.N) was down 82.% and PacWest Bancorp [(PACW.O)](https://www.reuters.com/companies/PACW.O) slid 52% before their trading was halted for volatility. Federal Reserve, giving it access to a total of $70 billion in funds through various sources. [emergency measures](/business/finance/regulators-urged-find-silicon-valley-bank-buyer-industry-frets-about-fallout-2023-03-12/) on Sunday to shore up confidence in the banking system after the failure of Silicon Valley Bank [(SIVB.O)](https://www.reuters.com/companies/SIVB.O) threatened to trigger a broader financial crisis. [(SBNY.O)](https://www.reuters.com/companies/SBNY.O), with regulators guaranteeing deposits at both Signature and SVB. [additional financing](/business/finance/first-republic-secures-new-facility-jpmorgan-2023-03-13/) through JPMorgan Chase & Co [(JPM.N)](https://www.reuters.com/companies/JPM.N) and the U.S. [The Thomson Reuters Trust Principles.](https://www.thomsonreuters.com/en/about-us/trust-principles.html) [(FRC.N)](https://www.reuters.com/companies/FRC.N) plunged on Monday as news of fresh financing failed to assuage investor fears of contagion in the banking sector after SVB Financial Group's [(SIVB.O)](https://www.reuters.com/companies/SIVB.O) downfall last week. Register for free to Reuters and know the full story

First Republic drops 60%, leads decline in bank stocks despite ... (CNBC)

First Republic Bank led a decline in bank shares Monday that came even after regulators' extraordinary actions Sunday evening.

The slide for regional bank stocks on Monday comes after a rush of withdrawals from SVB Financial forced that bank to close. In a fragile environment like we are in, we believe banks should be cautious about the potential negative signaling effect of raising deposit rates to keep deposits," Citi analyst Keith Horowitz said in a note to clients. First Republic reported roughly $213 billion in assets as of Dec. The central bank also eased conditions at its discount window. Other financial firms were also under pressure, as [Bank of America](/quotes/BAC/) slipped 3%, while [Charles Schwab](/quotes/SCHW/) tumbled 14%. [PacWest Bancorp](https://www.cnbc.com/quotes/) dropped 42%, and [Western Alliance Bancorp](/quotes/WAL/) lost more than 70% as regional bank stocks fell sharply.

First Republic Shares Sink in Sign of Broadening SVB Contagion (Bloomberg)

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 ...

First Republic Bank stock price nosedives after Silicon Valley Bank ... (CBS News)

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."

SVB crisis: First Republic Bank bleeds red on stock market as ... (Livemint)

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 ...

After SVB, First Republic Bank stock price tanks over 70% (Financial Express)

Positive impact of US regulators' overnight support actions in the banking system faded quickly.

Jim Herbert, Founder and Executive Chairman and Mike Roffler, CEO and President of First Republic Bank said, “First Republic’s capital and liquidity positions are very strong, and its capital remains well above the regulatory threshold for well-capitalized banks. First Republic Bank (FRC) share price closed 14% lower on Friday last week and is trading around $22, down by over 73% in the opening hours of trading session on Monday. Stock price of First Republic Bank tumbles nearly 73% as pressure mounts on US regional banks.

First Republic Bank's stock tumbles amid fears SVB turmoil will spread (Markets Insider)

First Republic has said it's getting $70 billion in funding from JPMorgan and the Fed's backstop for depositors.

[tumultuous one for banks](https://www.businessinsider.com/silicon-valley-bank-svb-biggest-bank-failure-since-2008-crisis-2023-3?utm_medium=ingest&utm_source=markets) with Silicon Valley Bank (SVB), once a trusted lender for startups, [closed down and taken over](https://markets.businessinsider.com/news/stocks/silicon-valley-bank-failure-fdic-wall-street-regulator-finance-investing-2023-3?utm_medium=ingest&utm_source=markets) by US regulators on Friday. [Silicon Valley Bank's shutdown by regulators](https://www.businessinsider.com/how-silicon-valley-bank-imploded-2023-3?utm_medium=ingest&utm_source=markets). [US regional banks](https://markets.businessinsider.com/news/stocks/first-republic-pacwest-bank-stock-price-crash-contagion-fears-svb-2023-3?utm_medium=ingest&utm_source=markets) are now feeling the shockwaves from SVB's collapse. The California-based [PacWest](https://markets.businessinsider.com/stocks/pacw-stock?utm_medium=ingest&utm_source=markets)'s stock plunged 43% to $7.11 on Monday while Arizona-based [Western Alliance Bancorp](https://markets.businessinsider.com/stocks/wal-stock?utm_medium=ingest&utm_source=markets&utm_medium=ingest&utm_source=markets) was down 76.8% to $11.47 at last check. In Zurich, the bank's shares traded around record lows, dropping 12% to 2.20 Swiss francs ($2.42) at last check. But the [embattled Swiss banking giant](https://markets.businessinsider.com/news/stocks/credit-suisse-shareholder-harris-associates-exits-entire-stake-2023-3?_gl=1*148pbq1*_ga*NTQwNTIzMjY5LjE2NzM5NjU3NzI.*_ga_E21CV80ZCZ*MTY3ODY5NDg3Mi4xNTMuMS4xNjc4NzAyNjMxLjAuMC4w&utm_medium=ingest&utm_source=markets) has been facing [internal troubles](https://markets.businessinsider.com/news/stocks/credit-suisse-regulator-review-swiss-bank-client-outflows-finma-reuters-2023-2?_gl=1*1dveyc8*_ga*NTQwNTIzMjY5LjE2NzM5NjU3NzI.*_ga_E21CV80ZCZ*MTY3NzE2NDMyMy4xNTIuMC4xNjc3MTY0MzIzLjAuMC4w&utm_medium=ingest&utm_source=markets&utm_medium=ingest&utm_source=markets) for some time now. Like First Republic, [PacWest Bancorp](https://markets.businessinsider.com/stocks/pacw-stock?utm_medium=ingest&utm_source=markets) caters to the same type of venture capital clients as SVB did. Trading in the stock was halted several times over volatility, [Credit Suisse](https://markets.businessinsider.com/stocks/cs-stock?utm_medium=ingest&utm_source=markets)'s US-listed shares fell 6.2% to $2.49 on Monday. [per Reuters](https://www.reuters.com/markets/us/futures-rise-bets-likely-rate-hike-pause-after-svb-collapse-2023-03-13/). [First Republic Bank](https://markets.businessinsider.com/stocks/frc-stock?utm_medium=ingest&utm_source=markets)'s stock cratered more than 76% on Monday, reflecting heightened investor anxiety about the San Francisco-based lender's stability following Silicon Valley Bank's dramatic collapse Friday.