“First Republic Bank’s Stock Delisted and Seized by Regulators”

In addition to the company’s common stock, seven different types of preferred stock will also be delisted. Trading in all shares will be suspended immediately, the exchange said. First Republic was acquired by Merrill Lynch in 2007. But it went public again in 2010 after being sold by Merrill’s new owner, Bank of America, in […]

“Why Did First Republic Bank Go Bankrupt? – Analysis and Insights”

Jakarta – The banking crisis in the United States (US) continues. After Silicon Valley Bank, now is the turn First Republic Bank who went bankrupt because their savings in the bank plummeted. Quoting CNN, Tuesday (2/5/2023) First Republic Bank was confiscated by the Federal Deposit Insurance Corporation and immediately taken over by JPMorgan Chase. First […]

“US Government Seeking Bids for Troubled First Republic Bank Takeover”

The US government has reached out to JPMorgan, PNC, and several other financial institutions, including investment firms outside of the banking industry, to participate in a bidding process for all or part of First Republic. The move is an attempt by US regulators to determine the cost of taking over the struggling California lender. Over […]

“First Republic Bank Loses Over $100B in Deposits and Faces Uncertain Future”

The California-based lender, First Republic, has suffered an enormous loss of customer deposits, with withdrawals totalling over $100 billion last month causing a 40% decline in deposits held by the bank in the first quarter of this year. Although rival banks have also seen declines in deposits, they were generally single-digit percentages, making First Republic’s […]

Warren Buffett, prominent investor, steps in amidst SVB bankruptcy causing banking crisis.

Warren Buffett The star investor had already become active during the 2008 financial crisis. (Photo: AP) Denver Bankers, regulators and government officials have been dealing with a central question for days: How can trust in the US banking system be restored after the Silicon Valley Bank (SVB) went bankrupt? Star investor Warren Buffett is apparently […]

Wall Street: First Republic Bank suffers a setback

Thud on Wall Street for First Republic Bank. The start was quickly thwarted in a highly volatile session with investors concerned about the banking crisis. After early trading, the Dow Jones index advanced 0.39% to 31,987 points, the S&P 500 index rose 0.20% to 3,924 and the Nasdaq fell 0.25% to 11,600. In the end, […]