I've been getting asked a lot of questions about First Republic Bank (NYSE: FRC) lately. That's understandable since its share price fell through the floor after the collapse of Silicon Valley Bank (SVB) in March. In early February, FRC was trading above $147 after rising 21% since the start of the year. Last week, it dropped below $5 on fears that the bank may go into receivership. Like SVB, First Republic Bank has an unusually high number of uninsured deposits. It is headquartered in San Francisco and does business with many of nearby Silicon Valley's venture capitalists and the companies in which they invest. Read More... |
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