First Republic Bank faces dwindling and tough options to turn around its business with the creation of a ‘bad bank‘ or asset sales possibilities, a source familiar with the matter said. | Reuters
has lost meaningful deposits and is planning to shrink itshas been reeling as it navigates the twin challenges of assuring customers their deposits remain safe and investors that it has liquidity to emerge from the crisis.
“Although deposits have stabilized since quarter-end, the company’s liquidity questions have turned into earnings questions,” said analysts at Piper Sandler.ing Index contracting nearly 22% this year, whilespecific or whether it will lead to largersaid on Monday it plans to shrink its balance sheet and slash expenses by cutting executive compensation, paring back office space and laying off 20 percent to 25 percent of employees in the second quarter.
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