The most likely outcome for First Republic is for the Federal Deposit Insurance Corporation to take it into receivership, sources told CNBC’s David Faber, reports Jesse Pound. However, there is still hope for a solution that doesn’t include receivership, sources told Faber. First Republic told CNBC on Friday that it is "engaged in discussions with multiple parties about our strategic options while continuing to serve our clients." Shares of First Republic are down 19% to $4.99 in morning trading. Reference Link
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on FRC:
- First Republic in talks with multiple parties, window ‘closing fast,’ CNBC says
- U.S. government bodies lead talks for First Republic, Reuters reports
- FRC Gains after News of U.S. Officials Leading Rescue Talks
- Notable open interest changes for April 27th
- First Republic may face curb on Fed borrowings, Bloomberg says
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue