First Republic says its liquidity remains 'very strong' in bid to calm nerves following Silicon Valley Bank's collapse

• First Republic sought to reassure customers after its share price crashed following SVB's collapse.
• The bank said its average customer deposit amount was well below the maximum $250,000 insured limit.
• However, about 68% of the bank's deposits, or almost $120 billion, are not insured.

First Republic Bank sought to reassure customers that their deposits were safe as regional lenders scramble to dampen contagion fears sparked by the collapse of Silicon Valley Bank.