First Republic Hit by Silicon Valley Bank Failure

First Republic Bank came under renewed pressure amid Silicon Valley Bank’s collapse on Friday as investors tried to sort out which other banks might face similar risks.

First Republic shares fell 52% in early trading before storming back to near where they closed the previous day, only to then finish the day down 15%. Investors expressed concerns about unrealized losses on assets at the bank as well as its heavy reliance on deposits that could turn out to be flighty.