First Republic saw a larger deposit decline than many of its rivals during the first quarter.
First Republic 's quarterly update left investors with major questions about whether the bank can repair itself after massive withdrawals, but the regional bank troubles appear to now be limited to just a small corner of the industry, according to Wall Street analysts. The troubled regional lender reported its first-quarter results Monday, showing a 40.8% drop in deposits that was steeper than analyst estimates. Without the $30 billion deposited at First Republic last month by large U.S.
But the Bank of America analyst echoed Shaw's view that First Republic's precarious position was not indicative of the broader industry. "We do not see FRC's deposit trends as a read through for any of the banks in our coverage universe. Results from regional banks over the last two weeks demonstrated the stickiness of the deposit customer base.
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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 says deposits tumbled 40% to $104.5 billion in 1Q, but have stabilized sinceThe deposit flight for the regional bank was worse than Wall Street expected.
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