First Republic Bank shares slump 60% in premarket trade - MarketWatch

First Republic Bank FRC, -61.83% shares fell 60% after the weekend collapse of Signature Bank and Friday’s closure of SVB Financial, even as federal regulators stepped into guarantee those deposits and provide a new lending program.

First Republic said it has access to more than $70 billion in unused liquidity after new support from the Federal Reserve and JPMorgan Chase.

Also on the move: PacWest Bancorp PACW, -21.05% dropped 27% and Western Alliance Bancorp WAL, -47.06% fell 15%.