First Republic Bank stock extends steep losses amid reports it’s considering a possible sale

[Guest]

Inka pampinchandi $$$ Ukraine ki.....anni banks ki bokka padetattu unnayi. Edo cheyali anukunnaru, chivariki edo ayyela unnaru. WWII lo UK ela bokkapettukundo alane US ki bokka start with Ukraine war. Russia vaadu China tho chettapattuluvesukuntu War gelichelaunnadu.

[ALFANI]

24 minutes ago, pandu123b said:

anna

money double indi , congratulations 

nenu svib lo ide try chesa, $350 bokka padindi 😀

akkada 100 bokka nakukuda..but took loss ..else mottem 500 potundey

 

[pandu123b]

10 minutes ago, ALFANI said:

akkada 100 bokka nakukuda..but took loss ..else mottem 500 potundey

 

correct decision bro

nenu ade chessvanni, nakU HALT chesesadu aa chance lekunda

[Pahelwan2]

3 hours ago, BommaliNinnodhala said:

@Pahelwan2 house theesi konava FRC stocks?

Ippudu enduku gurtu chestunav va. Nen konaldu andaru bayapetti thengiru

[BommaliNinnodhala]

1 hour ago, Pahelwan2 said:

Ippudu enduku gurtu chestunav va. Nen konaldu andaru bayapetti thengiru

Wise decision man — 

[hyperbole]

1 hour ago, Pahelwan2 said:

Ippudu enduku gurtu chestunav va. Nen konaldu andaru bayapetti thengiru

Atleast the liquidity issue is gone, it is a bit safe to buy now

 

A group of banks are in talks to deposit $30 billion in First Republic, sources say

PUBLISHED THU, MAR 16 202312:52 PM EDTUPDATED 24 MIN AGO

Jesse Pound@JESSERPOUND

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• FRC+2.05 (+6.58%)

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A group of financial institutions is in talks to deposit $30 billion in First Republic in what’s meant to be a sign of confidence in the banking system, sources told CNBC’s David Faber. 

The deal is not done yet, the sources said, and the amounts were a moving target. The plan does not call for an acquisition of First Republic.

 

Bank of America, Wells Fargo, Citigroup and JPMorgan Chase will contribute about $5 billion apiece, while Goldman Sachs and Morgan Stanley will deposit around $2.5 billion, the sources said. Truist, PNC, U.S. Bancorp, State Street and Bank of New York will deposit about $1 billion each.

The deposits would be obligated to stay at First Republic for at least 120 days.

The news comes after First Republic’s stock has been pummeled in recent days, sparked by the collapse of Silicon Valley Bank last Friday and Signature Bank over the weekend. Both of those banks had a high number of uninsured deposits, as did First Republic, leading to concern that customers would pull their money out.

First Republic’s stock, which closed at $115 per share on March 8, traded below $20 at one point Thursday. The stock was halted repeatedly shortly after the news broke and rose to $40 per share at one point, up more than 20% on the day.

The bank had said Sunday that it had more than $70 billion in availability liquidity, not counting additional funds it could possibly raise from the Federal Reserve’s Bank Term Funding Program, but that was not enough to keep investors from dumping the stock.

 

The deposits from the larger banks would add to that liquidity if the plan comes to fruition.

In the great financial crisis, several struggling banks were bought for cheap by the larger firms in an effort to help calm the banking system. However, the unrealized losses on First Republic’s bond portfolio due to last year’s rapid rise in interest rates have made an acquisition unappealing, the sources said.

The markdown, which would involve the bank’s held-to-maturity bond portfolio, would amount to about a $25 billion hole on First Republic’s balance sheet, the sources said.

First Republic typically caters to high-end clients and firms, and its business includes wealth management and residential real estate loans. The company reported more than $212 billion assets at the end of December and generated more than $1.6 billion in net income last year.

The bank declined to comment on this story.

[BommaliNinnodhala]

12 minutes ago, hyperbole said:

Atleast the liquidity issue is gone, it is a bit safe to buy now

 

A group of banks are in talks to deposit $30 billion in First Republic, sources say

PUBLISHED THU, MAR 16 202312:52 PM EDTUPDATED 24 MIN AGO

Jesse Pound@JESSERPOUND

SHAREShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email

In this article

• FRC+2.05 (+6.58%)

Follow your favorite stocksCREATE FREE ACCOUNT

A group of financial institutions is in talks to deposit $30 billion in First Republic in what’s meant to be a sign of confidence in the banking system, sources told CNBC’s David Faber. 

The deal is not done yet, the sources said, and the amounts were a moving target. The plan does not call for an acquisition of First Republic.

 

Bank of America, Wells Fargo, Citigroup and JPMorgan Chase will contribute about $5 billion apiece, while Goldman Sachs and Morgan Stanley will deposit around $2.5 billion, the sources said. Truist, PNC, U.S. Bancorp, State Street and Bank of New York will deposit about $1 billion each.

The deposits would be obligated to stay at First Republic for at least 120 days.

The news comes after First Republic’s stock has been pummeled in recent days, sparked by the collapse of Silicon Valley Bank last Friday and Signature Bank over the weekend. Both of those banks had a high number of uninsured deposits, as did First Republic, leading to concern that customers would pull their money out.

First Republic’s stock, which closed at $115 per share on March 8, traded below $20 at one point Thursday. The stock was halted repeatedly shortly after the news broke and rose to $40 per share at one point, up more than 20% on the day.

The bank had said Sunday that it had more than $70 billion in availability liquidity, not counting additional funds it could possibly raise from the Federal Reserve’s Bank Term Funding Program, but that was not enough to keep investors from dumping the stock.

 

The deposits from the larger banks would add to that liquidity if the plan comes to fruition.

In the great financial crisis, several struggling banks were bought for cheap by the larger firms in an effort to help calm the banking system. However, the unrealized losses on First Republic’s bond portfolio due to last year’s rapid rise in interest rates have made an acquisition unappealing, the sources said.

The markdown, which would involve the bank’s held-to-maturity bond portfolio, would amount to about a $25 billion hole on First Republic’s balance sheet, the sources said.

First Republic typically caters to high-end clients and firms, and its business includes wealth management and residential real estate loans. The company reported more than $212 billion assets at the end of December and generated more than $1.6 billion in net income last year.

The bank declined to comment on this story.

Congratulations 

[csrcsr]

Gaya katham it's dipping after hours wiat for interest rate day

[BommaliNinnodhala]

1 hour ago, csrcsr said:

Gaya katham it's dipping after hours wiat for interest rate day

Nee 500 safe in top 11 banks who is contributing to FRC — donot worry tomorrow morning gold ee

[megadheera]

Endi vayya ee roller coaster. Idedo nannu munchatanike chesthunnattundi

[BommaliNinnodhala]

2 minutes ago, megadheera said:

Endi vayya ee roller coaster. Idedo nannu munchatanike chesthunnattundi

Nu yentha pettav —??

[megadheera]

Just now, BommaliNinnodhala said:

Nu yentha pettav —??

Em pettale inka..watching. Nenu pedithe ink a padthademo ani naa yokka idi

[BommaliNinnodhala]

1 minute ago, megadheera said:

Em pettale inka..watching. Nenu pedithe ink a padthademo ani naa yokka idi

What a idi —