Why First Republic is hurt by its location: Analyst

First Republic Bank (FRC) saw some relief Tuesday after closing at a record low Monday. In a speech before the American Bankers Association, Treasury Secretary Janet Yellen assured that the government can step in and backstop more deposits if necessary, giving First Republic shares a boost.

Alexander Yokum, CFRA Research Equity Analyst joined Yahoo Finance to talk about First Republic. Yokum says that the bank's location is a key factor in some of the issues it has faced since Silicon Valley Bank's (SIVB) collapse. He told Yahoo Finance "I truly believe if they were based in a state like Alabama they would not be struggling like they are now. So, the fact that they are only 50 miles away from Silicon Valley Bank, their headquarters, and nearly half of all of their deposits are in that Silicon Valley."

Watch the full interview with Seana Smith and Dave Briggs here.

Key video moments:

00:00:19 On First Republic's location

00:00:58 "There was long lines in front of First Republic offices in the Silicon Valley."

00:01:23 On banking crisis being an emotional response