Shares of First Republic Bank lost almost 33% on Friday, totaling a loss of around 80% in the last 10 sessions, despite a rescue package with $30 billion in deposits injected by large U.S. banks.
The beleaguered lender was in talks to raise money from other banks or private equity firms by selling new shares, the New York Times reported on Friday afternoon, citing three people with knowledge of the process. The bank could also negotiate to be sold, the report said. First Republic declined to comment.
