First Republic has been caught up in a widening banking crisis triggered by the collapse of two mid-size U.S. lenders over the past week
Founded in 1985, First Republic had $212-billion in assets and $176.4-billion in deposits as of the end of last year, according to its annual report.widening banking crisis
triggered by the collapse of two mid-size U.S. lenders over the past week. Its stock has lost about 72 per cent of value this month. “Judging by the market’s reaction, it appears that maybe the damage has been done to the brand reputation of First Republic. is a shame because it was a high quality, well run bank, that constantly touted its high service promoter score,” said John Petrides, portfolio manager at Tocqueville Asset Management.
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