First Republic Bank

FRCB: PINX (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$2.62	Fkskf	Kpqhnvsn

First Republic Under Review as Tail Risks Emerge for Value of Franchise

Eric Compton

Mar 13, 2023

We are placing the shares of First Republic under review as emerging tail risks are causing us to re-evaluate the name. While we calculate that the bank could theoretically handle all outflows of "at risk" deposits, several items give us pause.

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