First Republic Stock Falls As Fate Of The Bank Remains Unclear

First Republic Bank FRC shares are falling Monday amid continued uncertainty surrounding the fate of the bank. 

What Happened: Monday morning on CNBC's "Squawk On The Street," David Faber told viewers that many are hoping First Republic is the last "problem" in the banking system, although he noted that uncertainty surrounding PacWest Bancorp PACW and Western Alliance Bancorp WAL is still floating around. 

"This is the one that is seen as sort of still an issue," Faber said of First Republic. 

Following the collapse of SVB Financial Group SIVB and Signature Bank SBNY, several banks experienced elevated net deposit outflows. First Republic appears to have been hit the hardest. 

See Also: PacWest Bancorp Stock Is Rising: What's Going On?

Late last week, the bank announced a deal for $30 billion in deposits from several major banks and said it has decided to suspend its dividend. 

Many hoped that the $30 billion would be enough to restore confidence, but it's not clear that that's the case, Faber said. 

"I continue to talk to many people who believe this company needs to be sold and they question, in fact, whether or not it can be without government help," Faber said.

"We'll just have to wait and see what really happens here."

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FRC Price Action: First Republic shares have been halted several times in Monday's trading session. The selling pressure picked up just before noon.

The stock was down 34.5% at $15.15 at the time of writing, according to Benzinga Pro.

Photo via Shutterstock.