First Republic earnings call not going well

|About: First Republic Bank (FRC)|By:, SA News Editor

Flattish for most of the session following this morning's earnings miss, First Republic (FRC -13.7%) tumbles amid the earnings call, with management noting the elevated expenses associated with getting over $50B in assets (and thus being subject to heightened regulatory scrutiny).

The bank says its efficiency ratio - guided at 59-62% - will remain elevated until sometime in 2016.

New York Community Bank (NYCB -3%) - also around that $50B level - is sliding in concert.

Previously: First Republic Bank misses by $0.07, misses on revenue