First Republic Bank turmoil pushes stock to plunge 95% this year as the lender seeks another lifeline from big US banks

• First Republic shares extended this week's losses, driving the stock down 95% so far in 2023. 
• The bank centered on wealthy clients was set to ask its larger rivals for more financial aid. 
• First Republic's market cap fell below $1 billion for the first time during the session. 

First Republic Bank shares continued to plunge on Wednesday, sinking to record lows as the lender reportedly seeks more financial help from larger rivals to offset a slide in deposits.

The stock fell as much as 41% to $4.76 and underwent a number of trading halts because of volatility. The loss was later pared to a still-steep decline of 29%.