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, since it has similar clients to silicon valley bank people in the startup space. on mo
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, since it has similar clients to silicon valley bank people in the startup space. on monday, the bank said it would cut about a quarter of its staff and slash executive compensation. samira executive
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,