Embattled First Republic Bank is no longer searching for a buyer as investment advisors and company executives seek to repair the company’s balance sheet before any sale might take place, FOX Business has learned.
The decision to pull it off the market, which was first reported Tuesday on The Claman Countdown, was made for a variety of reasons, according to people with direct knowledge of the matter. The bank has as much as a $12 billion hole in its balance sheet because of underwater assets and loans losses in a rising interest rate environment, these people say.
Source : First Republic Bank denies rumors of seeking a buyer