First Republic Bank, $FRC, is said to weigh options including a sale

First Republic Bank, $FRC, is said to weigh options including a sale.

First Republic said Sunday that it had more than $70 billion in unused liquidity to fund operations

However, Bloomberg first reported that it is considering a sale.

On Sunday, the bank said: “The additional borrowing capacity from the Federal Reserve, continued access to funding through the Federal Home Loan Bank, and ability to access additional financing through JPMorgan Chase & Co. increases, diversifies, and further strengthens First Republic’s existing liquidity profile."

In comparison, First Republic did not have most of its funds concentrated in one industry like SVB. It was also noted that the bank had clients with large uninsured deposits, like businesses and wealthy individuals.

Chris Kotowski, an analyst at Oppenheimer, gave a statement in a note to clients regarding Silicon Valley Bank's collapse would affect other banks. These would include those that were less to more diverse ones.

Kotowski: “Unfortunately, one of the first consequences of SIVB’s collapse is probably that it will cause a flight of uninsured deposits from smaller, less diverse banks to larger, more diverse ones,”

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