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First Republic awaits bidders as FDIC deadline inches closer

First Republic awaits bidders as FDIC deadline inches closer

First Republic — According to sources close to the situation, federal regulators are holding an auction for regional bank First Republic. According to the source, the final bids for First Republic Bank are due at 4 pm on Sunday. The auction The auction will be handled by the Federal Deposit Insurance Corporation, the independent government agency that insures bank customers’ deposits. A decision regarding a buyer for First Republic is likely going to be announced on Sunday evening. As the market continues to endure stress,