Inside First Republic’s Woes
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In the wake of the collapse of Silicon Valley Bank and Signature Bank, First Republic, a prominent mortgage lender in San Francisco, lost billions in deposits. But what does that mean for lending and can the bank survive? The Real Deal's Isabella Farr looks at First Republic Bank's financial health and how some of its long-term mortgages are posing issues for the bank's balance sheet. Plus, Deconstruct chats about the New York state budget and New York Community Bank’s earnings.
Disclaimer: This story was recorded before the FDIC seized First Republic Bank and sold it to JPMorgan on Monday morning.
Credits: Yahoo! Finance, ABC News
Inside First Republic’s Woes