First Republic Bank

FRCB: PINX (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$4.73	Kddm	Qmlzqhrpd

Don't Be Fooled: Latest Liquidity Injection Reveals Bad News for First Republic; Lowering Our FVE

Eric Compton

Mar 17, 2023

While the support from America’s largest banks by injecting $30 billion of deposits into no-moat-rated First Republic Bank might appear to be a positive on the surface, it confirms some of our worries about what has occurred. Prior to this event, we did not know for sure if First Republic had indeed experienced a true run on the bank or if perhaps it would be able to maintain its deposit base relatively intact.

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