First Republic Bank saw its shares slide in early trading a day after receiving a $30 billion lifeline from financial institutions, renewing concerns about a broader banking crisis
Founded in 1985, First Republic had $212 billion in assets and $176.4 billion in deposits as of the end of last year, according to its annual report.
"Possibly the market is looking for an all-out sale/buyer rather than an injection of capital," said John Petrides, portfolio manager at Tocqueville Asset Management, adding the situation is not over. The banks that were part of First Republic's rescue package are its most likely suitors for an acquisition, but the U.S. government is less likely to endorse a purchase by the biggest banks, said a source who declined to be identified because of the sensitivity of the situation.clinched an emergency central bank loan of up to $54 billion to shore up its liquidity.from the U.S.
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