First Republic Bank - Unsalvagable?

JP_mykayaplus wrote a column · Apr 10, 2023 22:11

$First Republic Bank (FRC.US)$ is not having a good time.

It is going through the hardest time since its founding till now.

2 days ago, it announced that it will be suspending dividends on its preferred stock.

That's not all.

Over the past 3 weeks, First Republic has lost eight teams or solo advisors to competitors.

Without teams to service clients, even if the balance sheet is strong and robust, there could be more headwinds and challenges in the coming quarterly performances of the bank.

That said, if it does survive this onslaught, today's price is definitely trading at steep deep value territory.

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