First Republic and Other Smaller US banks are trading down about 64% today. It is down 90% from its 12 month peak.
Western Alliance Bancorp was down as much as 85% today. PacWest Bancorp was down 60%, hitting a record low. Other regional banks were also down Customers Bancorp Inc., Comerica Inc., Zions Bancorporation, East West Bancorp and Bank of Hawaii.
There is a movement of deposits from smaller banks to the largest banks.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.
2 thoughts on “First Republic Bank Is Down 64% Today”
What makes a deposit base low or high risk?
Banks are too fragile. Banking needs to be a service the state provides.
Comments are closed.