First Republic says deposits tumbled 40% to $104.5 billion in 1Q, but have stabilized since

[Ravi860]

First Republic said Monday that its deposits fell 40.8% to $104,474 billion in the first quarter.

The deposit flight was worse than Wall Street expected with analysts expecting the quarter-end figure to be about $145 billion, according to the consensus estimate from FactSet’s StreetAccount. Analysts’ deposit estimates ranged from $100 billion to $206 billion, according to FactSet.

[FrankJScott]

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