First Republic Bank Shares Fall 60% in Premarket Trading Amid Concerns Over Its Financial Strength

The shares of First Republic Bank fell 60 percent in premarket trading amid concerns over its financial strength. The collapse of SVB has led to panic among investors with First Republic Bank trying hard to assuage fears of contagion. SVB was shut down by California regulators Friday and taken over by the Federal Deposit Insurance Corporation (FDIC) after its share price collapsed amid desperate capital raise attempt. SVB Collapse: HSBC Buys British Arm of Collapsed Silicon Valley Bank, Deal Facilitated by Bank of England and UK Government.

Shares of First Republic Bank Fall:

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