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First Republic shares rebound after multi-day slump

Investing.com -- Shares in First Republic Bank (NYSE:FRC) rose in early U.S. trading on Thursday after a two-day rout, as investors attempted to gauge if the embattled midsized lender can secure a deal to shore up its finances.

By 11:20 ET, San Francisco-based First Republic's stock had jumped by more than a tenth, recovering slightly from a slide of just under 30% in the previous session. The shares have been under pressure since Monday when the bank revealed $100 billion in customer withdrawals last month.

First Republic's advisors are trying to persuade larger U.S. banks to snap up bonds from First Republic at above-market prices, according to a CNBC report. The losses on the purchases, the report said, would be lower than the fees from the Federal Deposit Insurance Corp. that these banks would have to pay if First Republic collapses.

A group of 11 of the biggest U.S. banks previously injected $30B in deposits into First Republic in March. The move came after the implosion of Silicon Valley Bank sparked a crisis in the financial services sector that brought the regional lender to the brink of failure.

First Republic shares are now down by more than 95% over the past one-year period.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.