First Republic Bank's advisers have already lined up potential purchasers of new stock in the lender if they can fix the bank's balance sheet, CNBC reported on Wednesday, citing sources.
First Republic faces dwindling and tough options to turn around its business with the creation of a "bad bank" or asset sales possibilities, a source familiar with the matterThe bad bank possibility is a crisis-type method of isolating financial assets that have problems.plunge in deposits in the first quarter in the aftermath of the biggest turmoil to hit the banking sector since 2008.
The bank has been reeling in recent weeks as it navigates the twin challenges of assuring customers their deposits remain safe and investors that it has liquidity to emerge from the crisis.
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First Republic Bank slashing up to a quarter of its workforceThe bank expects to cut its workforce by 20-25%, the embattled lender said Monday.
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First Republic Bank Stock Price Today | NYSE FRC Live Ticker - Investing.comView today's First Republic Bank stock price and latest FRC news and analysis. Create real-time notifications to follow any changes in the live stock price.
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