First Republic gains after getting $30B in deposits from banks (update)

Mar. 16, 2023 3:56 PM ETFirst Republic Bank (FRC)BAC, JPM, GS, C, MS, WFC, USB, BK, STT, PNC, TFC, COBy: Joshua Fineman, SA News Editor409 Comments

First Republic Bank branch

Sundry Photography/iStock Editorial via Getty Images

Update 4pm: Adds confirmation.

First Republic (NYSE:FRC) rose 10% after the nation's biggest banks agreed to deposit about $30 billion with the troubled lender.

The largest banks, including JPMorgan (JPM), Bank of America (

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