it comes after the embattled lender revealed that it suffered a huge drop in deposits during the first quarter. first republic came under intense pressure after silicon valley bank and signature bank collapsed last month. the bbc s samira hussain has more from new york. normally when a company s earnings for are released, executive hold a call with analysts where they take questions. but that wasn t the case for first republic bank. executives spoke for about ten minutes and then took no questions. it is perhaps an indication ofjust how bad things have become at the regional bank. during the first quarter, it lost $102 billion in customer deposits. that s way more than half of the $176 billion it had on hand at the end of last year. after silicon valley bank and signature bank were taken over by federal regulators, wall street worried that first republic could be the next bank to go down,
first republic came under intense pressure after silicon valley bank and signature bank collapsed last month. the bbc s samira hussain has more from new york. normally when a company s earnings for are released, executive hold a call with analysts where they take questions. but that wasn t the case for first republic bank. executives spoke for about ten minutes and then took no questions. it is perhaps an indication ofjust how bad things have become at the regional bank. during the first quarter, it lost $102 billion in customer deposits. that s way more than half of the $176 billion it had on hand at the end of last year. after silicon valley bank and signature bank were taken over by federal regulators, wall street worried that first republic could be the next bank to go down,
missed, which is fema didn t announce the fact that they were coming there until after donald trump said he was going. rachel: great point. pete: in fact, just minutes, less than an hour after trump said i m going to east palestine the, fema, oh, we re going. st the an emergency. sometimes it takes shining a light on it or politics to create an effect. rachel: absolutely. go ahead. will: take a look at joe biden s infrastructure bill that was passed, and i think this is something that you pointed out. it shows, as any bill does, priorities. and you can see how much funding went to trains and railways, roughly $102 billion. but compare that now to the figures under there, green energy pushes inside of that infrastructure law, and they total this morning i was with rachel, will, can you do the quick math on that? [laughter] it s bigger. pete: it s, like, $126 billion-you should. rachel: he s like sean, he s like rainman. [laughter] pete: close. you can fact check us.
they have had to quickly act it. cost $120 billion in total rail funding. and then as we look at what is happening now as the infrastructure deal when you look at rail, nothing specifically for ohio. a lot has to do with amtrak. the bipartisan deal that had some republican senators sign off on it, you know, the president famously loves to ride the train. $102 billion worth of rail work. the other thing to keep in mind people have brought up before is that there was a rail strike. and it was forced consolation. everyone had to go back to work against their will. you wonder what is going on if that is playing a role at all in what we are seeing now. a lot of these trains some 50 cars, some 100 cars, are not fully manned. so, we re looking now at a situation where fema does not step in because the company is responsible. but the problem for the people in palestine is win is the money coming? they need stuff today.