First Republic Earnings Report to Shed Light on Depth of Bank Crisis

First Republic Bank is set to release its Q1 earnings report, providing insight into the extent of the damage after sharp deposit outflows due to a crisis of confidence in midsize and smaller U.S. banks. Concerns are mounting about other lenders that could face a liquidity crunch similar to the ones

April 23, 2023 . 2:13 PM

1 min read

First Republic Bank to report Q1 earnings Monday, giving investors insight into the extent of the damage after sharp deposit outflows at the troubled bank.
The bank had to be rescued by JPMorgan Chase and other big banks after being at the center of a crisis of confidence in midsize and smaller U.S. banks.
First Republic caters to wealthy customers with high account balances, which means many had deposits over the FDIC’s $250,000 protection limit.
Concerns have mounted about other lenders that could face a liquidity crunch similar to the ones that ultimately took down Silicon Valley Bank and Signature Bank.
Investors, analysts and policy makers will get a closer look at the health of other regional banks when they report this week.