First Republic Financial institution, essentially the most imperiled U.S. lender after final month’s banking disaster, on Monday disclosed the grisly particulars of simply how troubled its enterprise has turn into — and never a lot else.

Within the financial institution’s extremely anticipated first replace to buyers since coming into a free-fall over the previous month and a half, its leaders mentioned little. In a convention name to debate its first quarter outcomes with Wall Road analysts, the financial institution’s executives supplied simply 10 minutes of ready remarks and declined to take questions, leaving buyers and the general public with few solutions about how it might steer out of its malaise.

One factor is for certain: The financial institution, which caters to a well-heeled clientele on the coasts, is hanging on by a thread. Through the first quarter, it misplaced a staggering $102 billion in buyer deposits — properly over half of the $176 billion it held on the finish of final 12 months — not together with a short lived $30 billion lifeline it obtained from the nation’s greatest banks final month.

First Republic reported a quarterly revenue of $269 million, down one-third from a 12 months earlier. Its shares fell 15 p.c in prolonged buying and selling following the discharge of its outcomes.

The financial institution mentioned that the deposit exodus largely ceased by the final week of March. From March 31 to April 21, the financial institution mentioned that it misplaced only one.7 p.c of its deposits and that the majority of these had been associated to tax funds by its shoppers.

The financial institution’s slide started roughly six weeks in the past, when the midsize lenders Silicon Valley Financial institution and Signature Financial institution had been taken over by federal regulators after clients pulled a giant chunk of their deposits. First Republic, primarily based in San Francisco, was broadly seen because the lender most certainly to fall subsequent, as a result of it had many consumers within the start-up business — much like Silicon Valley Financial institution — and plenty of of its accounts held greater than $250,000, the restrict for federal deposit insurance coverage.

First Republic’s inventory rose greater than 10 p.c on Monday forward of its earnings report, however is down greater than 85 p.c since mid March.

First Republic has been in talks with monetary advisers and authorities officers to give you a plan to save lots of itself that might embrace promoting the financial institution or elements of it, or elevating new capital.

Way more stays to be performed. The financial institution mentioned on Monday that it might lower as a lot as 1 / 4 of its work drive, and slash government compensation by an unspecified quantity.