First 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.
A First Republic Bank branch is pictured in Midtown Manhattan in New York City, New York, U.S., March 13, 2023.
Mike Segardeposits fell by $72 billion in the first quarter, overshadowing market-beating profit and sending its shares down 15% in extended trading on Monday.First Republic came into intense focus after Silicon Valley Bank and Signature Bank
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First Republic says deposits tumbled 40% to $104.5 billion in 1Q, but have stabilized sinceThe deposit flight for the regional bank was worse than Wall Street expected.
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