<a href="https://www.thenationalnews.com/business/banking/2023/04/26/first-republic-bank-shares-stock/" target="_blank">First Republic Bank </a>shares continued to slide on Wednesday, slumping to an all-time low following a report that advisers have lined up potential buyers of new stock as part of a rescue plan for the beleaguered lender. Shares were down 29.75 per cent at $5.69 at market close. Shares dropped about 50 per cent on Tuesday and are now down about 95 per cent, year to date. Advisers will try to persuade big US banks who bailed out First Republic once before to purchase bonds from the San Francisco-based company at above-market rates for a total loss of a few billion dollars, CNBC reported on Wednesday. This is reportedly less than the Federal Deposit Insurance Corporation's fees associated with any First Republic failure. As part of that plan, the advisers have already lined up possible purchasers for new shares, CNBC said, citing sources it did not identify. Last month, First Republic staved off a potential collapse after a group of 11 bigger financial firms agreed to park a combined $30 billion in deposits with the lender. The San Francisco-based bank plans to sell off unprofitable assets, including low-interest mortgages it provided to wealthy clients. It also has plans to lay off up to a quarter of its workforce, which totalled about 7,200 at the end of last year. A Citi analyst downgraded First Republic on Wednesday, saying in a note to clients that there is still a large level of uncertainty in outcomes and expected losses beyond the next year.