Here We Go… First Republic Bank Plunges 66% in Pre-Market – Western Alliance Bank Down 62% – Customers Line Up in California!

Customers line up at First National Bank on Sunday

Here we go.
First Republic Bank is down 66% this morning before Monday’s open.

Here we go. https://t.co/5wirp2c4O8

— Catturd ™ (@catturd2) March 13, 2023

The Western Alliance Bancorporation is down 62%

JUST IN 🚨 Bank stocks in pre-market trade:

Western Alliance Bancorporation down 62%

First Republic Bank down 64%

PacWest Bancorp down 42%

Charles Schwab down 8.52% pic.twitter.com/0uNPxAq72f

— Insider Paper (@TheInsiderPaper) March 13, 2023

On Sunday First Republic Bank announced a strengthening and diversification of their liquidity position.
Then the bank fell 66% overnight.

Today, we announced a further strengthening and diversification of our liquidity position. This increase in available liquidity further reinforces the safety and stability of First Republic. We are grateful to our clients for their continued support. https://t.co/eucaVOEjoy

— First Republic (@firstrepublic) March 13, 2023

Bank customers were lined up in California on Sunday!

People lining up to pull money out of First Republic Bank in Brentwood, LA this weekend.

Wealthy neighbourhood with many uninsured accounts over $250,000.

The banks stock is down 33% in the last week.

Is this what the start of a bank run looks like? pic.twitter.com/yU1xR8JKUw

— Genevieve Roch-Decter, CFA (@GRDecter) March 12, 2023

But don’t worry. Joe Biden is going to stumble through a speech at 9 AM ET to calm the financial sector.

Jim Hoft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016.