Reports that FDIC is on Site at First Republic Bank

First Republic Bank (FRC.N) and Western Alliance (WAL.N) said on Friday their liquidity and deposits remained strong, aiming to calm investors worried of a spill-over of risks from troubled startup focused-bank SVB Financial Group.

First Republic is about the same size bank as Silicon Valley Bank. First Republic was a $30-50 billion bank in 2021 and up until a few weeks ago was over $20 billion.

First Republic is the 14th biggest bank in the USA.

Source link