First Republic's stock price fell by almost 50% to a record low after reporting a significant drop in deposits

First Republic's stock price fell by almost 50% to a record low after reporting a significant drop in deposits during the first quarter, losing around 40% of its deposits following the collapse of Silicon Valley Bank. The bank's net outflows would have exceeded $100 billion if excluding a $30 billion infusion from 11 larger banks.

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First Republic is reportedly pursuing strategic options to reshape its balance sheet after the deposit flight, with one potential path being for larger banks to buy some of its assets and for the regional bank to raise additional equity.

The bank is also said to be looking to sell up to $100 billion of loans and securities to restructure its balance sheet.