First RepublicBank Corp. ran full-page ads in...
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First RepublicBank Corp. ran full-page ads in Texas newspapers reiterating that it was not involved in merger negotiations and blaming seasonal and anticipated factors for its shrinking deposits. The ads seek to reassure depositors of Texas’ largest bank holding company, which has been plagued by huge losses stemming from its portfolio of troubled loans. Since Dallas-based First RepublicBank reported a $656.8-million loss on Jan. 19, there have been questions about its ability to weather anticipated losses from its $3.9-billion portfolio of troubled loans.
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