First Republic Shares Plunge by Over 49% as Bank Struggles to Stabilize Itself

Shares of First Republic ($FRC@US) fell sharply by over 49 percent on Tuesday, hitting a record low. Investors are concerned about the bank's ability to stabilize itself after losing 40.8 percent of its deposits during the first quarter following the collapse of Silicon Valley Bank. First Republic is pursuing strategic options to reshape its balance sheet after its deposits plummeted, including potentially selling up to $100 billion of loans and securities. Other banks and federal officials are reportedly looking for solutions to stabilize the regional bank.