Fast and furious National Weather Service says heavy rain fell but during short durations that cut rainfall totals

billion in deposits at the end of 2022. Of that, $119.5 billion was uninsured.

According to a report filed with the FDIC, the average deposit size for most First Republic customers is less than $200,000. The average business account holds less than $500,000. The corporate headquarters of First Republic Bank did not respond Tuesday to the NewsPress’ request for comment.

On Monday, President Joe Biden stressed that the banking system is safe, noting steps that were taken to limit the fallout from the collapse of Silicon Valley Bank. Some lawmakers have called for re-examining the rules for midsize banks. San Francisco Gate reported that First Republic Bank mainly serves wealthy clients and has deposits less concentrated in the tech industry than Silicon Valley Bank did.

“The Tuesday rally is another hopeful sign for markets,” Business Insider reported on Tuesday. “ ‘Big Short’ investor Michael Burry has said he believes there’s little risk of contagion from SVB’s collapse for other stocks.”” email: kzehnder@newspress.com