First Republic Bank stock plunges even after $30 billion rescue package
Posted on AllSides March 17th, 2023
From The Left
Shares in San Francisco’s First Republic bank plunged more than 26% Friday morning in a sign that investors weren’t consoled by a recent rescue effort in which some of the nation’s largest banks deposited $30 billion into in an effort to keep First Republic afloat amid concerns about the wider banking industry. After Silicon Valley Bank’s collapse a week ago and New York-based Signature Bank’s collapse after that, shares of many mid-sized banks were hit hard. Like Silicon Valley Bank, First Republic serves largely wealthy customers in urban coastal markets,...
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