First Republic Bank surged by a record, leading a broad-based rally in US lenders, amid discussions aimed at offering further support for the beleaguered lender.
The stock jumped 30%, bouncing off the record-low level it closed at Monday, with fellow regional lenders including Western Alliance Bancorp and PacWest Bancorp also staging double-digit moves higher. The KBW Regional Banking Index surged by 4.8% for its biggest gain since January 2021, boosted by a broad rally across the sector.
