First Republic shows $100B deposit loss in Q1

San Francisco-based First Republic Bank released its first quarter earnings report, giving investors a first glimpse at the state of the bank following its near-collapse as a ripple effect of the collapse of Silicon Valley Bank and Signature Bank in early March. In an effort to prevent First Republic’s collapse, national banks issued it a $30 billion in deposits to increase liquidity as depositors and investors acted in fear. Read on for more details.