JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. will contribute $5 billion of deposits each, while Goldman Sachs Group Inc. and Morgan Stanley will kick in $2.5 billion apiece, according to a statement Thursday. PNC Financial Services Group Inc., Bank of New York Mellon Corp., Truist Financial Corp., U.S. Bancorp and State Street Corp. will each contribute $1 billion.

“This action by America’s largest banks reflects their confidence in First Republic and in banks of all sizes,” according to the statement.

First Republic has been exploring strategic options including a possible sale, Bloomberg News reported late Wednesday. The lender’s shares have plummeted in the aftermath of regulators’ seizure of fellow regional lenders Silicon Valley Bank and Signature Bank over the past week.

Shares of First Republic swung wildly Thursday, plunging as much as 36% early in the day, then surging as much as 28% midday after details of the emerging plan were first reported. Shares were up 12% at 3:27 p.m. in New York. Trading was paused multiple times during the day for volatility.

First Republic, which specializes in private banking and has built up a wealth-management franchise with some $271 billion in assets, has made an effort to differentiate itself from SVB Financial Group’s Silicon Valley Bank. Unlike SVB, which counted startups and venture firms among its biggest clients, First Republic said that no sector represents more than 9% of total business deposits.

Silicon Valley Bank collapsed into Federal Deposit Insurance Corp. receivership Friday after its customer base of tech startups grew concerned and pulled deposits.

First Republic Bank has been working with JPMorgan as it tackles its challenges. On Sunday, the same day Signature Bank was taken over by regulators, First Republic said it “further enhanced and diversified its financial position” by securing additional liquidity from the Federal Reserve and JPMorgan.