First Republic Bank Slides Another 15% Premarket After Reports It’s Mulling A Possible Sale | Old North State Wealth News
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First Republic Bank slides another 15% premarket after reports it’s mulling a possible sale



First Republic Bank stock FRC tumbled another 15% in premarket trade Thursday, amid reports it’s exploring its strategic options, including a potential sale of the company. Bloomberg reported late Wednesday that the San Francisco-based bank, which has been caught up in the jitters sparked by the failure of Silicon Valley Bank last week and two other lenders, was downgraded into junk territory by S&P Global Ratings and Fitch Ratings on Wednesday, citing concerns about deposit flight to bigger banks perceived to be safer. A spokesperson for First Republic declined comment to MarketWatch. JP Morgan said early Thursday that…

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