First Republic Shares Plunge After Drop in Deposits

The bank is facing a significant decline in deposits, with a 41% drop to $104 billion, falling short of expectations. Despite a $30 billion infusion, the bank struggles with a 19% drop in net interest income and higher funding costs. It plans to cut 20-25% of its workforce, reduce loan volumes, and explore strategic options, including a potential sale. The bank's stock has plummeted from $121 to under $12, with further pressure expected.

What strategic options is the bank exploring according to the earnings call?

What was the stock price of the bank at the start of the year?