First Republic Banc Corporation (FRC) delayed releasing it’s first quarter numbers until stock trading had closed for the day on Monday; now everyone knows why:
During Quarter One of 2023, Depositors at FRC withdrew forty percent (40%) of the total deposits in the bank! Worse, if it wasn’t for the larger banks depositing $30 Billion to shore them up, FRC’s actual withdrawal amount was fifty-seven percent (57%).
When releasing their numbers late Monday, the bank quickly noted it is cutting twenty-five percent (25%) of its workforce, and is “pursuing strategic options.”
Within minutes of the quarterly numbers being revealed, the stock price of FRC began to plummet, and has now lost 22.19% of its Monday closing value:
Thus, people in the financial industry are now openly describing FRC as a “Zombie” bank.
For what it’s worth, FRC is the eighteenth (18th) largest bank in the United States. The fact that banks in the top 11-20 are now going “Zombie” means the contagion will likely spread to the top 1-10 banks within 3 months. The reason: Even with the FDIC, people in the general public are no longer trusting the banks.
Millions of dead fish clog up Australian river near remote town | News | Al Jazeera (Death to the TRANSFER SYSTEM-SWIFT)
The Tribulation is commencing..
Please repent, carry your cross daily and accept the free gift of Jesus Christ’s Death on the Cross for payment for your sins.
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