First Republic reports 1Q 2023 earnings April 24. Here’s a preview.
A report from S&P correctly notes all eyes will be on First Republic when they report 1Q 2023 earnings on April 24.
Speculation of a First Republic sale eased, and I still maintain that if the bank did sell, I hope a buyer would retain the First Republic brand.
We should also get clarity on this sale topic when 1Q2023 First Republic earnings come out.
S&P also notes a few other key items:
– Jefferies analysts Ken Usdin and Casey Haire estimate uninsured deposit outflows of up to $89 billion from First Republic during March’s bank crisis.
– If true, this would be more than half of First Republic deposits of $176 billion as of December 31, 2022.
Hit the link below for more, including key stats on other publicly traded banks as of early April 2023.
Since January, First Republic's 2023 net interest margin down by 118 basis points, which S&P says is grim for earnings. Here's the analysis.
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Check It Out:
– First Republic's earnings, profitability outlook looks grim