FIRST REPUBLIC BANK: FAILED?
First Republic Bank: Failed? First Republic Bank might be breathing its last breaths. Financial regulators are preparing to take control of operations the same as they did with two banks that failed last month, a report by Reuters highlighted. Further, according to the sources, a few lenders are on the lookout to purchase the bank after the public authority locks in a deal that could materialize soon. As no private banks are willing to help the beleaguered financial institution raise more cash, officials are finding it difficult to devise an appropriate plan to prevent First Republic Bank from facing a meltdown. What caused this situation to crop up? After the collapse of Silicon Valley Bank and Signature Bank, depositors of First Republic Bank were worried about the survival of First Republic Bank as their deposits that were invested in assets were devalued over time due to rising interest rates during the last year. The situation was exacerbated especially after the collapse of Sili