First republic, Commercial banking company

New York, March 21 JPMorgan Chases investment bank has been hired to advise First Republic, as the embattled regional bank tries to ease concerns about its financial condition, a media report said.First Republic's share price has plummeted 90 per cent to record lows over the past month, as investors scrutinised lenders with a high amount of uninsured depositors — a response to the collapse of Silicon Valley Bank and Signature Bank earlier this month, CNN reported.First Republic's nosedive continued even after 11 of America's biggest banks, including JPMorgan, Citigroup and Wells Fargo, provided First Republic with a $30 billion rescue last week. Despite that effort, both Moody's and S&P Global Ratings downgraded First Republic's credit ratings over the weekend.Now, the San Francisco-based First Republic has hired JPMorgan's investment bank to help management explore its options, including potentially raising additional capital, CNN reported.First Republic shares rallied 22 per cent in premarket trading on Tuesday, rebounding from a 47 per cent plunge on Monday.Jim Herbert, First Republic's founder and executive chairman, and CEO Mike Roffler had last week expressed their "deep appreciation" to the big banks for their $30 billion lifeline, CNN reported.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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First republic, Latest News

International :First Republic Bank in San Francisco closed by CDFPI

Washington [US], May 1 : First Republic Bank in San Francisco, California was closed on Monday by the California ... ...

International :JPMorgan Chase buying most assets of embattled First Republic Bank

New York, May 1 JPMorgan Chase is buying most assets of First Republic Bank and assuming all of ... ...

Business :Another US bank closed, JP Morgan to acquire assets of First Republic Bank

Washington [US], May 1 : US-based First Republic Bank was closed on Monday (local time) by the local regulators ... ...

International :US regulators racing to find a rescuer to buy First Republic Bank

New York, April 30 US regulators are racing to find a rescuer to buy First Republic Bank in ... ...

International :JPMorgan advising First Republic on another fundraise

New York, March 21 JPMorgan Chases investment bank has been hired to advise First Republic, as the embattled ... ...