Signature Bank followed in Silicon Valley Bank’s footsteps Sunday when regulators overtook the spiraling financial institution. Today, First Republic Bank is drawing attention as its shares take a dive.

At 2:30 p.m. ET Monday, First Republic Bank’s shares sat at $41.46, down 50% from market open.

Before last week, all three banks played integral roles in fintech investment.

“[SVB] was there for many startup and tech companies to enable them to better operate and to provide them with banking services when others didn’t quite know how to do the same thing,” Tal Kirschenbaum, co-founder and chief executive of automated payments platform Ledge, told Bank Automation News.

Fintechs connected with Signature, First Republic

New York-based Signature Bank valued at $110 billion and widely used in cryptocurrency, took a turn late last week following the collapse of Silvergate and SVB.

The bank has led eight investment rounds since 2020, including $24 million in online loan marketplace Lendio, $500,000 in workflow automation platform Vertify and $2 million in education guidance platform Emtrain, according to Crunchbase.

First Republic Bank is the latest bank dealing with a crisis of confidence in deposits.

San Francisco-based First Republic had invested in only a few companies with just one in the fintech space: student loan lending marketplace CommonBond. The bank had helped raise $50 million in series D financing in March 2018 for CommonBond, according to Crunchbase.

Outside of the fintech sector, First Republic helped raise $1 billion for home-buying platform Pacaso in 2021 and had previously invested $350 million in entertainment companies Annapurna Pictures and $50 million in Electric Entertainment in 2017 and 2014, respectively.