First Republic, Regional Peers Try to Boost Confidence After SVB
- Lenders point to diverse business mix and deposit bases
- Customers seek reassurance after SVB enters receivership
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First Republic Bank wanted to make clear Friday that its liquidity position “remains very strong” and it has a “very well diversified” deposit base.
Some investors weren’t entirely buying it. The stock tumbled 15%, extending the San Francisco-based bank’s slide to 34% this week.