Fabrice TaylorFirst Republic BankFRCCOMMENTJul 23, 2014

Who cares? Their woes effect only FRC. We're past the point of the impact of other regional banks. The market has moved on.

Either the FIDC steps in or FRC becomes a zombie bank. Even if it survives as a zombie, FRC will pay so much interest that there won't be profits.

She bought it as it spiked 50% (good), then the next day it fell (bad). It was a very small position. She expected the bank's deposits position to be contained, but it didn't.

Down 25% this morning and shares halted. The situation is changing constantly. He's watching it. Depositers are safe. Who will the bank merge with, etc? He has sold part of his position to a small holding. He will eventually decide whether to keep it or dump it.

Down 25% this morning and shares halted. She owns a very small position, picking up some last week, but selling this week. The fear factor is the reason.

Share price has reacted to SVB news. If you want more safety, go to the bigger cap banks either in the US (JPM, BAC) or Canada, where our oligopoly structure is attractive.

San Francisco based with a huge exposure to silicon valley. A mid-cap bank. They have grown loans and deposits by 20% each over the last 20 years. They just closed an acquisition that is attractive. They grow two to three times as fast as the typical US bank.

(Top Pick Jun 3/14, Up 24.02%) A fabulous bank. A bank you can own for a long, long time. There is speculation they might get taken out. Last year they announced they would pass 50 Billion in assets, but that meant absorbing a lot of costs to manage themselves. This was a buying opportunity. They need to beef up their reporting requirements. Silicon valley, California.

He favours the regional banks right now, because from a regulatory point of view, the glare from Washington is directly on the money centered banks. That’s a negative pressure which is actually bringing down the earnings. This is not a bad bank, but he favours others.

His favourite bank in the US. San Francisco-based, and half their business is in San Francisco and Silicon Valley area. In general, a great way to invest in high net worth households across the US. They are in 5 core geographic areas in the US. 55% of high net worth households reside in those areas. Their average customer has got $13 million. In the last 10 years, their loan book has grown at 21% a year, and deposits have also grown at 21% year. Net losses since the mid-80s, is .16 of 1%, a very low, low number. Thinks they can grow earnings low to mid teens over the next few years. Yield of 1.08%.