Shares of First Republic sink, as banking industry woes flare anew

Selling the bank to a healthier financial institution would be the preferred remedy. But finding a buyer willing to absorb the unrecognized losses on bonds owned by the bank will not be easy.“They’re going to have to intervene — I don’t think they can sell it,” said one banking source who was familiar with the ongoing discussions with senior government officials. “People have been going through the numbers and there’s been unrecognized losses there.

“With the closure of several banks in March, we experienced unprecedented deposit outflows,” said Neal Holland, the bank’s chief financial officer. “We are working to restructure our balance sheet and reduce our expenses and short-term borrowings.”11-bank team in depositing

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

STOCK MARKET UPDATES: GM, Verizon, McDonald’s earnings, First Republic shares tumbleInvestors sift through a barrage of blue-chip earnings including McDonald’s, Verizon and GM, as well as Case-Shiller’s housing data and President Biden will run for re-election in 2024. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
Fuente: FoxBusiness - 🏆 458. / 53 Leer más »

First Republic Bank Shares Sink 49% After Earnings ReportFirst Republic Bank shares lost about half their value Tuesday, a day after the bank reported first-quarter results that showed a deposit hemorrhage in March that was worse than expected
Fuente: WSJ - 🏆 98. / 63 Leer más »