Now things are getting interesting, I just wish that however it plays out in the end, we are not the ones to pay the price (which, I realize, is... — read more
Republic First exits mortgage origination business, conducts layoffs in New York
Republic First Bancorp said it plans to exit the mortgage origination business and “streamline" its commercial lending team in New York City as part of a new strategic plan to refocus the company on its core... — read more
The banking crisis could get worse...
https://www.ft.com/content/397fb877-a1ec-48b5-841d-d646d2891b47
First Republic Bank downgraded to junk by S&P and Fitch on risk of clients pulling deposits in the wake of SVB failure
https://markets.businessinsider.com/news/stocks/svb-first-republic-bank-credit-ratings-downgrade-junk-fitch-frc-2023-3 First Republic Bank's credit ratings were cut to junk status at S&P Global and Fitch on Wednesday. Each agency sees risks in... — read more
Who’s next?
I hope that the same scenario as Silicon Valley Bank will not happen to First Republic too. What do you think? Here is a very good article about the risks First Republic faces https://www.ft.com/content/84dc06d5-2cb7-4c0c-b0a2-5b2ab76e60eb — read more
First Republic drops 60%, leads decline in bank stocks despite government’s backstop of SVB
https://www.cnbc.com/2023/03/13/first-republic-drops-bank-stocks-decline.html