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The Latest Breaking News from First Republic

What Happened to First Republic Bank? Why Is It in Trouble?

The San Francisco-based regional bank, First Republic, was the third financial institution to declare insolvency in 2023 and the second-largest bank to fail since Washington Mutual collapsed during the Financial Crisis of 2007–2008. Plagued by many of the same issues that doomed Silicon Valley Bank ...

The Street

Their Banks Failed, But Will They Give Back Their Huge Bonuses?

The CEOs of Silicon Valley Bank and Signature Bank earned millions in bonuses before their banks collapsed, but they have not returned the money.

The Street

'Big Short' Burry Gambled Big on Troubled Bank. The Bet Went Wrong

The legendary investor bet on First Republic Bank in the first quarter. In late April the firm was seized by regulators and on May 1 was sold to JPMorgan Chase.

The Street

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Failed Bank CEO Recalls What Happened 'Overnight' Before Collapse

It’s rear-view mirror time for First Republic’s former top executive.

The Street

Regional Bank Stocks Set To Extend Rebound; KRE Eyes Strongest Week Since 2021

Western Alliance sparked a regional bank rally Wednesday. Regional banks traded sharply higher early Thursday.

Investors Business Daily

'Big Short' Michael Burry Is Not Always Right

The legendary investor bet on First Republic Bank in the first quarter. In late April the firm was seized by regulators and on May 1 was sold to JPMorgan Chase.

The Street

'Big Short' Michael Burry Makes a Bad Bet

First Republic Bank was seized in late April by regulators and sold to JPMorgan Chase on May 1.

The Street

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Deeper Regional Banking Crisis Unlikely after Triple Failure: Kiplinger Economic Forecasts

Kiplinger

JP Morgan: has world’s largest bank got too big for its boots?

“His ears are smaller. And there is no crown. But on Wall Street, at least, Jamie Dimon is America’s answer to King Charles III,” said Patrick Jenkins in the Financial Times (FT): “adulated by some, resented by others, but incontrovertibly powerful”.

The Week

Jamie Dimon says he won’t be buying any more failed banks: ‘It’s a lot of work’

“People always look at the financial deal. Forget the financial deal ... it's a lot of work,” Dimon told Bloomberg Thursday about buying beaten down banks.

Fortune

PacWest Stock Tumbles as Depositors Pull $1.8B; Regional-Bank Stocks Slide

'News headlines increased our customers fears of the safety of their deposits,' PacWest said in an SEC filing.

The Street

Too Small to Succeed Is the Problem Facing Regional Banks

Recent turmoil centers on institutions—a notch or two down from the Wall Street giants—that are crucial funding sources for local businesses.

Businessweek

PacWest Stock Higher After Slashing Quarterly Dividend, Says Business Is 'Sound'

"Our business remains fundamentally sound," said PacWest CEO Paul Taylor.

The Street

Bank Crisis: Bankers Call For Probe Into Short Sellers. Elizabeth Warren Wants Answers From First Republic.

The ABA called for a probe into short sellers profiting off the bank crisis. Sen. Warren wants answers from First Republic executives.

Investors Business Daily

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The Guardian - UK

US regional bank shares partially recover but fear of crash lingers

Stock market rises on bounceback despite investors still nursing steep losses

The Street

Stocks Higher, Jobs Report On Deck, Apple Earnings Beat, Warner Bros Earnings, Fed Bank Lending - Five Things To Know

Stock futures higher as Apple, bank stocks lift sentiment; April jobs report in focus amid 'data dependent' Fed; Apple shares jump as iPhone sales power Q2 earnings beat; Warner Bros Discovery earnings on deck after Paramount plunge and Banks trim borrowing from Fed, Pacwest, Western Alliance rebound.

WEKU

Shares of smaller lenders sink once again, reviving fears about the banking sector

PacWest and Western Alliance were among the smaller lenders that saw shares tumble even as the banks sought to reassure their customers and investors..

AFP

US regional banks sink again as reassurances fall flat

New York (AFP) - Shares of PacWest Bancorp were in free fall Thursday after the lender's attempt to reassure investors fell flat amid another pummeling of US regional bank stocks.

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Fortune

Billionaire investing royalty is scared about more bank failures: ‘We are running out of time to fix this problem’

Bill Ackman, Nelson Peltz, and Jeffrey Gundlach all think the Fed is wrong about the banking system.

AFP

PacWest latest target as US regional bank shares dive again

New York (AFP) - Shares of PacWest Bancorp were in free fall Thursday after the bank's attempt to reassure investors fell flat amid another pummeling of US regional bank stocks.

The Conversation

Digital bank runs: social media played a role in recent financial failures but could also help investors avoid panic

A crisis of confidence in the US banking sector led people to pull their money from banks including Silicon Valley Bank and Credit Suisse, and more recently, First Republic Bank and California-based PacWest Bancorp. The way these events have unfolded have created a new term in the vocabulary of finance:…

Investors Business Daily

PacWest Bancorp Explores Options. Western Alliance Denies Deal Rumors. Gensler Issues Statement.

PacWest Bancorp sparked more panic among regional banks on reports it's exploring strategic options, including a potential sale. Bank stocks dive.

The Street

PacWest Plunges To Record Low As Lender Weighs Strategic Options; Western Alliance Slams FT Report

"The bank has not experienced out-of-the-ordinary deposit flows following the sale of First Republic Bank and other news," PacWest said.

The Guardian - UK

Trading halted in shares of two more US lenders as fears of banking crisis mount

Regulators step in after PacWest and Western Alliance shares plunge as investors fear repeat of First Republic, SVB and Signature failures

The Week

First Republic: will UK banks survive unscathed?

The Treasury has sought to reassure the public that the British banking system is safe after First Republic became the third major US bank to fail in two months.

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