First Republic Bank Shares have tumbled heavily in the past week following the failures of two large US regional banks,
Silicon Valley Bank and Signature Bank. On Thursday, shares of the bank and several other financial firms soared after America’s largest banks swooped in to save the San Francisco lender. Including 11 banks under the scheme JPMorgan Chase & Co. deposited $30 billion in First Republic using its own funds, confirming an earlier report by The Wall Street Journal.
But on Friday, First Republic’s shares tumbled again, plunging more than 30% and leaving analysts wondering whether it has a future as a stand-alone bank.