First Republic Bank faces an uncertain future as customers pulled roughly $100 billion in deposits from the US bank last month, prompting its shares to tumble nearly 30%. The bank, known for its big mortgage lending business and large stable of wealthy clients, has been under pressure since a series of US bank failures last month sparked fears of a wider crisis. First Republic Bank is seen as vulnerable to a bank run and being squeezed by higher interest rates, as it is forced to pay more to keep deposits, while earning less on home loans made when rates were lower.

In March, it received a $30 billion influx from some of America’s biggest banks, a rescue plan aimed at shoring up confidence in the lender. However, the scale of the withdrawals revealed this week was even worse than investors had expected. First Republic Bank has said it is exploring its options and regulators are on alert but not prepared to step in yet. The bank is trying to convince the banks that supported it before to buy more of its assets to help prop up the business. It is uncertain if the bank will be able to take actions to strengthen its business within an acceptable time frame or if it is unable to do so, what the future of the bank will be.