Business
The First Republic may not need US aid. That won’t protect shareholders.
Bank of the First Republic
still in free fall even after the banking industry provide lenders with billions of dollars in cash. That amount may be enough to avoid regulatory intervention to protect depositors, but investors are still worried their stake in the bank will be diluted or wiped out.
Shares of First Republic Bank (ticker: FRC) fell $10.85, or 47%, to close at $12.18 on Monday, adding to the plunge that wiped out 90% of the value of the company. stocks this month. The stock closed at $123.01 at the end of February.