First Republic Bank seized, sold to JPMorgan Chase

File - A sign for a First Republic Bank location is shown in San Francisco, Tuesday, April 25, 2023. 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. File - A sign for a First Republic Bank location is shown in San Francisco, Tuesday, April 25, 2023.

NEW YORK — Regulators seized troubled First Republic Bank early Monday, making it the second-largest bank failure in U.S. history, and promptly sold all of its deposits and most of its assets to JPMorgan Chase Bank in a bid to head off

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First Republic Bank Is Seized, Sold to JPMorgan in Second-Largest U.S. Bank FailureThe deal will see JPMorgan take on all of First Republic’s $103.9 billion in deposits and buy most of its $229.1 billion in assets. It heads off a chaotic collapse that threatened to reignite the recent banking crisis.
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