San Francisco-based First Republic is the third midsize bank to fail in two months. It is the second-biggest bank failure in U.S. history, behind only Washington Mutual, which collapsed at the height of the 2008 financial crisis and was also taken over by JPMorgan.
NEW YORK (AP) Regulators seized troubled First Republic Bank early Monday and sold all of its deposits and most of its assets to JPMorgan Chase Bank in a bid to head off further banking turmoil in the U.S. San Francisco-based First Republic is the third midsize bank to fail in two months. It is […]
“JPMorgan Chase is buying most assets of First Republic Bank and assuming all of the lender’s deposits in a deal announced Monday that was arranged by the US Federal Deposit Insurance Corporation,” CNN reports.Wall Street Journal: “San Francisco-based First Republic, the second-largest b