shares of first republic sold off sharply on monday as a selloff in regional bank stocks continued regional bank stocks staged their deepest retreat in three years on monday reflecting deepening investor concern about the health of the industry following three bank failures in the past week the kbw nasdaq index of commercial banks dropped more than 10 with large lenders such as comerica inc and zions bancorp declining more than 20 the spdr sp regional banking etf dropped more than 15 putting it on pace for its largest decline since 2008