First Republic Bank, which was downgraded to junk by S&P and Fitch, is looking at a possible sale: Bloomberg
"We believe the risk of deposit outflows is elevated at First Republic Bank despite the actions of federal banking regulators and the bank actively increasing its borrowing availability to mitigate risk associated with the bank failures over the last week," First Republic's share price closed 21.4% lower at $ 31.16 apiece on Wednesday. They are down 74% so far this year.
First Republic Bank did not immediately respond to Insider's request for comment sent outside regular business hours.Sign up for notifications from Insider! Stay up to date with what you want to know.
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