The shocking collapse of the First Republic Bank in May 2023 has sent shockwaves through the U.S. banking industry. As one of the largest and most stable banks, its downfall will have significant repercussions on the economy. Factors contributing to the First Republic Bank collapse include exposure to risky loans, internal management conflicts, and reliance on wealthy clients.

The incident highlights the fragility of the banking industry and calls for increased oversight and regulation. The aftermath of this event will shape the industry’s future, emphasizing the need for improved preparedness and accountability.

Therefore, Real Research, an online survey app, launched a survey on the collapse of the First Republic Bank to gather further information on the collapse of the First Republic Bank.


  • 24% believed the collapse of First Republic Bank was triggered by Silicon Valley Bank and Signature Bank panic waves.
  • Almost half of the respondents believed the failure of the First Republic Bank is indicative of greater financial problems in the United States.
  • 41% suggested reforming rules on liquidity requirements as a reform.

According to our Real Research survey, the first poll asked the respondents whether they were aware of the collapse of the First Republic Bank. More than half of the respondents (56.46%) said they were well aware, compared to 32.91% who were vaguely aware, and 10.63% who were unaware.

Why First Republic Bank Collapsed

Furthermore, the next survey asked respondents to identify the circumstances that contributed to the collapse of the First Republic Bank.

Figure 1: Factors that contributed to the downfall of the First Republic Bank

According to Figure 1, 24.16% of the respondents believed that the rush of withdrawals following the collapses of another major bank, Silicon Valley and Signature Bank, contributed significantly to the collapse of First Republic.

Additionally, 23.01% believed First Republic Bank’s heavy reliance on wealthy clients is also another significant factor, and 20.03% believed the bank had a high level of deposits, which exceeded the Federal Deposit Insurance Corporation’s insured limit of $250k

Lastly, 15.53% believed the surging interest rates triggered by the Federal Reserve also contributed to the collapse.

Symptoms of Larger Problems in the U.S. Banking System?

In the aftermath of the collapse of First Republic Bank, a pressing question arises: Does this incident indicate a more widespread issue within the U.S. banking system?

As the shockwaves from the bank’s downfall reverberate, it becomes crucial to explore whether this event is a mere isolated occurrence or a potential symptom of broader challenges faced by the banking industry.

When the respondents were asked if they believe the recent collapse indicates further issues, almost half of the respondents (49.98%) said yes, whereas 18.93% said no, and 31.09% were left uncertain.

Moreover, among the respondents, a high number of 61.06% said that the U.S. banking industry needs to undergo significant regulatory changes in the wake of the recent collapse and 24.52% said no. Meanwhile, 14.42% of the respondents were uncertain.

Figure 2: Does the U.S. banking industry require significant reforms in the wake of the recent collapse?

Then we asked the respondents, “What kind of changes do you suggest?” 40.94% said reform of rules of liquidity requirements, 30.46% said more rigorous stress-testing, 17.49% said higher regulatory standards to midsized banks, 8.3% said increase internal governance transparency, and 2.8% remained unsure.

Finally, the survey asked, “How concerned are you about the impact on the banking sector as a result of the recent collapse of the First Republic?”

Figure 3: Respondents’ concern levels on the impact on the banking sector in light of the recent collapse

According to Figure 3, 47.18% of the respondents were somewhat concerned and 36.82% were highly concerned. On the other hand, 13.08% were not very concerned and 2.92% were not concerned at all.


Survey TitleSurvey on the Collapse of the First Republic Bank
DurationMay 7, 2023 – May 14, 2023
Number of Participants10,000
DemographicsMales and females, aged 21 to 99
Participating Countries Afghanistan, Algeria, Angola, Argentina, Armenia, Australia, Azerbaijan, Bahrain, Bangladesh, Belarus, Benin, Bolivia, Brazil, Brunei, Bulgaria, Burkina Faso, Cambodia, Cameroon, Canada, Chile, China, China (Hong Kong) China (Macao), China (Taiwan), Colombia, Costa Rica, Croatia, Czech Republic, Ecuador, Egypt, El Salvador, Ethiopia, Finland, France, Gambia, Georgia, Germany, Ghana, Greece, Greanada, Guatemala, Honduras, Hungary, India, Indonesia, Iraq, Ireland, Israel, Italy, Ivory Coast, Japan, Jordan, Kenya, Kuwait, Kyrgyzstan, Latvia, Lebanon, Libya, Lithuania, Malaysia, Maldives, Maluritania, Mexico, Moldova, Mongolia, Morocco, Mozambique, Myanmar [Burma], Namibia, Nepal, Nicaragua, Nigeria, Oman, Pakistan, Palestine, Panama, Peru, Philippines, Poland, Portugal, Qatar, Romania, Russia, Saudi Arabia, Serbia, Sierra Leone, Singapore, Slovakia, South Africa, South Korea, Spain, Sri Lanka, Tanzania, Thailand, Togo, Tunisia, Turkey, Turkmenistan, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, Venezuela, Vietnam, Yemen, Zimbabwe.