First Republic Bank, a global bank, found itself in crisis when its deposit to loan ratio far exceeded the recommended ratio and it carried almost a third of uninsured deposits from highly wealthy clients. This led to the bank needing a bail out from other banks like Wells Fargo, Citigroup and Bank of America (to name a few) totaling thirty billion dollars to avoid an international economic fall out and to try and boost confidence in First Republic's customers. As of Friday, the bank has not experienced the rebound they had hoped.
Carter Vance
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