The bank’s shares were down nearly 5% at $21.83 in after-market trading.
Terms of the deal were under discussion and a sale of First Republic was also possible, according to the report.
First Republic declined to comment.
Large U.S. banks injected $30 billion in deposits into First Republic on Thursday, swooping in to rescue the lender caught up in a widening crisis triggered by the collapse of two other mid-size U.S. lenders over the past week.
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