First Republic is seeking to raise money from other banks or private-equity firms by selling new shares, the New York Times reported late Friday, citing people with knowledge of the discussions.
First Republic stock FRC,
According to the report, terms of a deal are still being discussed, and a sale of the bank is also possible.
Contagion fears have rocked bank stocks after the failures of Silicon Valley Bank, Signature Bank and Silvergate Bank in the past week.
Related: Startups and VCs need another Silicon Valley Bank. Can any other bank fill the void?
San Francisco-based First Republic is seen as a potential fourth bank to fail because it served many wealthy clients from venture capital and banking around Silicon Valley.
First Republic stock ended the week down 72%, contrasting with weekly gains of 1.4% for the S&P 500 index. SPX,
