First Republic Extends Rout on Report FDIC Receivership Imminent

First Republic shares slump as much as 54% in postmarket trading Friday after a Reuters report that the FDIC was preparing to place it into receivership imminently.

(Bloomberg) — First Republic shares slump as much as 54% in postmarket trading Friday after a Reuters report that the FDIC was preparing to place it into receivership imminently.

Stock fell 43% during the regular trading session to close at a record low on Friday
- Shares have fallen more than 97% so far this year.
READ MORE: First Republic Plunges Anew Amid Elusive Search for Rescue Plan

More stories like this are available on bloomberg.com