First Republic falls more than 40% to record low after reporting massive deposit drop

Posted on AllSides April 25th, 2023
From The Center

Shares of First Republic fell sharply and hit a record low Tuesday, as investors questioned how the bank would stabilize itself after losing about 40% of its deposits during the first quarter.

First Republic’s stock fell more than 40% on Tuesday, extending its year-to-date losses beyond 90%. It hit a record intraday low at $8.27 per share.

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https://www.cnbc.com/2023/04/25/first-republic-falls-more-than-40percent-to-record-low-after-reporting-massive-deposit-drop.html

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