© Lauren Justice/Bloomberg California-based lender First Republic Bank says customers withdrew $100 billion US worth of deposits in the first quarter, a revelation that sent the company's shares down to all-time lows. Shares in regional U.S. bank First Republic Bank fell another 15 per cent on Wednesday, a day after plunging to an all-time low after the mid-sized lender revealed that customers withdrew $100 billion US worth of deposits in the first quarter. Shares in the California-based bank were changing hands for less than $7 US each in premarket trading on Wednesday. But investors were far more concerned with the bank's net loss of deposits during the quarter: $100 billion. Cieszynski said First Republic has brought back old fears about the banking sector that the market had put to rest.

Source: CBC News April 26, 2023 14:05 UTC