BANKING CRISIS NOT OVER
America’s largest banks moved Thursday to shore up First Republic Bank, easing fears that the regional lender could be the next domino to fall after two collapses, including that of Silicon Valley Bank.
First Republic, which is headquartered in San Francisco, CA, is the 14th largest U.S. bank by assets.
The majority of the bank’s “affluent” client base is concentrated in coastal urban areas, according to Morningstar analyst Eric Compton.