First Republic Bank is down 21% as the most heavily-traded stock in premarket action with volume of more than one million shares, according to MarketWatch’s...
First Republic Bank FRC is down 21% as the most heavily-traded stock in premarket action with volume of more than one million shares, according to MarketWatch’s Premarket Screener. Analysts at Raymond James said the bank’s first-quarter results released late Monday were disappointing, with a “dramatic decline in core deposit balances, increased reliance on high-cost borrowings, and substantial net interest margin compression.
Analysts at Raymond James said the bank’s first-quarter results released late Monday were disappointing, with a “dramatic decline in core deposit balances, increased reliance on high-cost borrowings, and substantial net interest margin compression.” First Republic aired plans to reduce its loan portfolio and cut costs, including laying off up to 25% of its workforce. “We believe FRC shares will remain volatile until we gain more clarity on the bank’s future,” said analyst David J. Long.
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First Republic bank says deposits tumbled 40% to $104.5 billion in the first quarterThe lender said things have stabilized since last month's banking emergency, but it will still reduce headcount by 20% to 25% in the second quarter.
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First Republic Bank Stock Price Today | NYSE FRC Live Ticker - Investing.comView today's First Republic Bank stock price and latest FRC news and analysis. Create real-time notifications to follow any changes in the live stock price.
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First Republic Bank’s Financial Ratios Will Reveal Serious TroubleFirst Republic Bank is in trouble, and all market participants await today's earnings to learn the extent of the bank's challenges. the stock is down 87% since the regional banking turmoil began in March.
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First Republic Bank slashing up to a quarter of its workforceThe bank expects to cut its workforce by 20-25%, the embattled lender said Monday.
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First Republic Bank to slash up to a quarter of its workforce | CNN BusinessFirst Republic Bank expects to cut its workforce by 20-25% this quarter, the embattled lender said late Monday.
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First Republic Bank deposits fall by $72 billion, announces layoffsFirst Republic Bank's deposits fell by $72 billion in the first quarter, overshadowing market-beating profit and sending its shares down 15% in extended trading on Monday.
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