First Republic Bank's advisers have already lined up potential purchasers of new stock in the lender if they can fix the bank's balance sheet, CNBC reported on Wednesday, citing sources.
First Republic faces dwindling and tough options to turn around its business with the creation of a "bad bank" or asset sales possibilities, a source familiar with the matterThe bad bank possibility is a crisis-type method of isolating financial assets that have problems.plunge in deposits in the first quarter in the aftermath of the biggest turmoil to hit the banking sector since 2008.
The bank has been reeling in recent weeks as it navigates the twin challenges of assuring customers their deposits remain safe and investors that it has liquidity to emerge from the crisis.
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First Republic bank says deposits tumbled 40% to $104.5 billion in the first quarterThe lender said things have stabilized since last month's banking emergency, but it will still reduce headcount by 20% to 25% in the second quarter.
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First Republic Bank slashing up to a quarter of its workforceThe bank expects to cut its workforce by 20-25%, the embattled lender said Monday.
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First Republic Bank to slash up to a quarter of its workforce | CNN BusinessFirst Republic Bank expects to cut its workforce by 20-25% this quarter, the embattled lender said late Monday.
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First Republic Bank deposits fall by $72 billion, announces layoffsFirst Republic Bank's deposits fell by $72 billion in the first quarter, overshadowing market-beating profit and sending its shares down 15% in extended trading on Monday.
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First Republic Bank deposits tumble more than $100 billion as it explores options By Reuters*FIRST REPUBLIC BANK LOST OVER $100 BILLION IN CUSTOMER DEPOSITS IN Q1 FOLLOWING SILICON VALLEY BANK'S COLLAPSE $FRC
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First Republic Bank Stock Price Today | NYSE FRC Live Ticker - Investing.comView today's First Republic Bank stock price and latest FRC news and analysis. Create real-time notifications to follow any changes in the live stock price.
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