While the bank earnings season isn't over yet, we've gotten a large chunk of the sector's results already. And those earnings have varied dramatically between banks. Some, like Wells Fargo (WFC), have aggressively built up their loss reserves to deal with potential problems in future quarters. Some banks are even reporting operating losses due to significant deterioration in the loan books. However. other banks have gotten through the first quarter of the coronavirus crisis almost entirely without blemish.
Take First Republic (FRC) for example. First Republic is the nation's largest regional