First Republic Bank's Uncertain Future Amidst Plummeting Shares and Rescue Plans.

TL;DR Summary
First Republic Bank's shares have fallen more than 47%, hitting an all-time low, and trading was halted numerous times throughout the day. The bank's customers have withdrawn around $70 billion in deposits since Silicon Valley Bank's collapse, or nearly 40% of its total holdings. Despite sweeping government measures to reassure bank depositors that their money is safe, small and regional banks are still uneasy, with First Republic at the highest risk of another lethal run. Large banks have had a huge influx of customer deposits in the past week as people grew nervous about small banks' ability to safeguard their money.
Topics:business#bank-run#deposit-withdrawals#finance#financial-crisis#first-republic-bank#large-banks
- ‘This is going to be pretty bumpy going forward’: First Republic stock shares plunge almost 50% as people move their money despite $30 billion bailout Fortune
- JPMorgan CEO Jamie Dimon Leading Efforts to Craft New First Republic Bank Rescue Plan - WSJ The Wall Street Journal
- First Republic continues tanking, but other regional banks are rallying on Monday CNBC
- Fate of First Republic Uncertain as Shares Plummet Again The New York Times
- First Republic, Athenex fall; Franchise Group, Exelixis rise Bellingham Herald
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