The past few weeks have been brutal for the San Francisco-based lender. Now some analysts say a collapse of the bank is imminent.
The past few weeks have been brutal for the San Francisco-based lender. Now, some analysts say a collapse of the bank is imminent. “It’s becoming clearer each day” that First Republic is “toast,” said Don Bilson at Gordon Haskett, in a note Wednesday. “The only question that really needs to be answered is whether the [Federal Deposit Insurance Corporation] moves in before the weekend or during the weekend, which is when it usually does its thing.
” Bloomberg reported Tuesday that the lender is looking to sell as much as $100 billion of its loans and securities in a bid to balance its books. First Republic declined to comment to CNN on the story. Other reports say that First Republic is considering asking big banks to help with such a deal. Option three: Receivership The biggest fear that investors have is that First Republic goes into receivership, said Chiaverini.
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