$First Republic Bank (FRCB.US)$ Is anyone else playing with ...
$First Republic Bank(FRCB.US$ Is anyone else playing with this?
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Tan Kok Chai : I played
岁月神偷 : I am 500
quiet Badger_4520 : Friends, why wasn't Republic Bank delisted after it was acquired?
101802833 quiet Badger_4520 : The main ticker, FRC, was delisted. FRCB is just the pink sheet, ie the shell of FRC after its assets and deposits were bought out.
quiet Badger_4520 101802833 : So are there no assets in it? So the point of this stock's existence is that it was later added to assets or backfired by other companies?
101802833 quiet Badger_4520 : I'm not sure what you mean above. If you are asking what is left in this shell company now, it is mostly corporate debt that JP Morgan did not buy over when they took over most of FRC's assets and deposits. It is basically just a company with lots of debt and little to no revenue. A bit like a zombie company.
quiet Badger_4520 101802833 : Oku got it! Thank you so much
Jeff trader : It was acquired by J.P. Morgan, banks and employees are in, assets are in, previously released loans continue to receive interest, and then JPMorgan will put it on the market again.
101802833 Jeff trader : You seem to be labouring under the delusion that this ticker, FRCB, includes employees of FRC that was taken in by JPM during their acquisition, and that the acquired assets and deposits that JPM acquired is still somehow belonging to FRCB. This cannot be further from the truth. When JPM took over FRC's assets and deposits, they have effectively become JPM's assets. When FRC employees go over to JPM due to the acquisition, they are effectively JPM's employees. Therefore all these assets, employees that JPM paid money for, is accounted for under the JPM ticker, not this FRCB ticker. FRCB has always been, and still is, a shell company comprising of corporate debt and preferred stock that JPM did not buy over.It is comments like these that really tempt me to want to do another FAQ post like I did for FRC in the past to dispel all the delusions and mistruths. If I see the situation calling for it, I will have to do it soon
Jeff trader 101802833 : You are just a short man, full of your own interests, you will fail in this trade, buy and raise the stock price for me! Hahahahahaha
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