First Republic Bank FRC (+4.39%) saw its premarket shares drop 1.5% after it announced in a filing that it would cease paying dividends on preferred stock. This was “a measure prudent oversight.” First Republic suspended its dividend on its common stock after it received $30 billion from the nation’s biggest financial institutions. This was in response to the drop in deposits due to the collapse of Silicon Valley Bank. According to Friday’s filing, First Republic stated that it would release its first quarter results on April 24, following market closes. First Republic reported earnings the second week in April 2022, 2021, and 2020. According to FactSet data, analysts expected First Republic’s first-quarter earnings to be released on Friday.