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The Guardian - US
The Guardian - US
Business
Guardian staff and agencies

RARE PHOTOS: First republic bank shares fall 50 after reporting dramatic slump in deposits | Vintage Vibes

First Republic First Republic Bank United States Silicon Valley Bank
First Republic Bank headquarters in San Francisco, California.
First Republic Bank headquarters in San Francisco, California. Photograph: Anadolu Agency/Getty Images

First Republic Bank’s shares closed down 50% on Tuesday, a day after the mid-sized US bank announced a dramatic slump in deposits.

On Monday the San Francisco-headquartered bank reported a more than $100bn plunge in deposits in the quarter in the aftermath, sparking fears that it could be the third bank to fail after the collapse of Silicon Valley Bank and Signature Bank.

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