New Jersey flags to fly half-staff for 226 killed in Dominican Republic nightclub collapse
TRENTON, N.J. — Acting Governor Tahesha Way has ordered all U.S. and New Jersey flags to fly at half-staff on Monday in remembrance of the 226 victims killed in the collapse of…
Republic First Bancorp cuts jobs in preparation to exit mortgage business
(Reuters) – Republic First Bancorp said on Friday it cut jobs in its commercial lending unit as the lender prepares to exit its mortgage origination business. The Philadelphia-based regional bank said high…
Fed data shows failed bank First Republic was key central bank borrower
By Michael S. Derby NEW YORK (Reuters) – Federal Reserve data on Thursday showed a large part of the central bank’s emergency lending activities in recent weeks were tied up with the…
Western Alliance says no unusual deposit outflows after First Republic sale
(Reuters) – Western Alliance Bancorp said on Wednesday it had not experienced unusual deposit outflows following the sale of collapsed lender First Republic Bank to JPMorgan Chase & Co, as the U.S.…
Regional Bank Stocks Plummet Following First Republic Collapse
Regional Bank Stocks Plummet Following First Republic Collapse Jason Cohen on May 2, 2023 Regional bank stocks declined on Tuesday following the collapse of First Republic Bank the day prior, the second-largest…
IMF lauds ‘quick and orderly resolution’ of First Republic by US regulators
WASHINGTON (Reuters) – The International Monetary Fund (IMF) appreciates quick action by U.S. regulators to seize First Republic Bank and find a private buyer, an IMF spokesperson said on Monday. It said…
Fifth Third Bancorp bid for First Republic before sale to JPMorgan -sources
By Anirban Sen and David French NEW YORK (Reuters) – Fifth Third Bancorp was one the banks that submitted final bids for First Republic Bank on Sunday before it was sold to…
Biden says First Republic depositors protected, calls for stronger bank regulation
WASHINGTON (Reuters) – U.S. President Joe Biden on Monday hailed moves by U.S. regulators to facilitate the sale of First Republic Bank, protect all its depositors and ensure that U.S. taxpayers are…
First Republic options draw bears, though cashing in could be a problem
By Saqib Iqbal Ahmed and Laura Matthews NEW YORK (Reuters) – Bearish options traders are ramping up bets on further declines in the beaten-down shares of First Republic Bank, though strategists say…
First Republic most likely headed for FDIC receivership – CNBC
(Reuters) – First Republic Bank is most likely headed for Federal Deposit Insurance Corp (FDIC) receivership, CNBC reported on Friday citing sources. Shares of First Republic were down 19%. The bank did…
White House: Monitoring situation at First Republic, could step in if needed
By Andrea Shalal WASHINGTON (Reuters) – The White House is continuing to monitor the situation at First Republic Bank, which has continued to lose deposits this week, spokesperson Karine Jean-Pierre said on…
First Republic faces potential curb on borrowing from Fed – Bloomberg News
(Reuters) -U.S. bank regulators are weighing the prospect of downgrading their private assessments of First Republic Bank, which could lead it to face potential curbs on borrowing from the Federal Reserve, Bloomberg…
First Republic advisers have lined up potential purchasers of bank’s new stock – CNBC
(Reuters) – First Republic Bank’s advisers have already lined up potential purchasers of new stock in the lender if they can fix the bank’s balance sheet, CNBC reported on Wednesday, citing sources.…
First Republic Bank short positions turn profitable for month – S3 Partners
NEW YORK (Reuters) – Short interest in shares of beleaguered First Republic Bank rose by $389.8 million to $945.5 million in the past 30 days, and the bearish positions turned profitable for…
First Republic Bank exploring up to $100 billion in asset sales – Bloomberg News
(Reuters) – Troubled lender First Republic Bank is exploring an asset sale of up to $100 billion, Bloomberg News reported on Tuesday, citing people familiar with the matter. A sales would help…
First Republic, KPMG are sued for concealing bank’s risks
By Jonathan Stempel (Reuters) – First Republic Bank has been sued by shareholders who accused the beleaguered U.S. regional bank of concealing how rising interest rates threatened its business model by prompting…
First Republic bank to suspend dividends on preferred stock
(Reuters) – First Republic Bank said in a regulatory filing on Friday that it will suspend payments of quarterly cash dividends on its preferred stock “as a measure of prudent oversight.” Last…
Betting against First Republic, short sellers made $848 million in March – Ortex
(Reuters) – Short sellers made a whopping $848 million in paper profit by betting against beleaguered First Republic Bank in March, financial data company Ortex said on Tuesday, making it the most…
Republic First Bancorp expects to file annual report after deadline
(Reuters) – Republic First Bancorp Inc said on Friday it expects to file its annual report with the U.S. Securities and Exchange Commission by May 1, much later than the March 30…
First Republic Bank executives to forego annual bonuses for 2023
(Reuters) – First Republic Bank said on Wednesday all its executive officers have decided to take no annual bonuses for 2023, and founder and Executive Chair Jim Herbert will draw no salary…
Moody’s downgrades credit ratings on First Republic Bank
(Reuters) – Ratings agency Moody’s on Friday downgraded the credit of First Republic Bank, citing deterioration in the bank’s financial profile and challenges faced by the lender due to increased reliance on…
First Republic Bank plans to raise cash by selling shares privately – NYT
(Reuters) – First Republic Bank is in talks to raise money from other banks or private equity firms by issuing new shares, the New York Times reported on Friday, citing three people…
US regulators say deposits into First Republic Bank show system’s resilience
WASHINGTON (Reuters) – Federal regulators and the Treasury Department on Thursday welcomed a decision by 11 larger banks to deposit $30 billion into regional bank First Republic Bank and said it showed…
First Republic receives $30 billion in deposits from big banks
(Reuters) – First Republic Bank has received $30 billion in deposits from several big banks including JPMorgan Chase & Co, Citigroup Inc and Morgan Stanley, the banks said in a statement on…
First Republic secures new facility from JPMorgan
(Reuters) – U.S. private bank First Republic Bank said on Sunday it had secured additional financing through JPMorgan Chase & Co, giving it access to a total of $70 billion in funds…
First Republic, Western Alliance calm contagion worries from SVB meltdown
(Reuters) – U.S. lenders First Republic Bank and Western Alliance said on Friday their liquidity and deposits remained strong, calming investors worried of a spill-over of risks from troubled startup focused-bank SVB…
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