Q2 Holdings discloses First Republic Bank contributed ~2.5% of 2022 revenue; bank seized by FDIC

Q2 Holdings, Inc.

First Republic Bank accounted for ~2.5% of Q2's total 2022 revenue, predominantly from professional services.
No single customer >4% of Q2's total revenue; top 20 customers <25% of revenue for FY2022.
Q2 is monitoring potential impacts on customers and operations from the First Republic seizure and broader market instability.
JP Morgan Chase acquired substantially all of First Republic Bank's operations after FDIC control.

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