Tag: First Rebublic

Breaking: JPMorgan Chase Win Bail-Out Bid For Troubled First Republic Bank!

Bankruptcies Ben - May 1, 2023

On Monday, First Republic Bank was seized by the U.S. regulators. JPMorgan Chase then acquired all of First Republic’s deposits, including uninsured ones, and a “substantial majority of assets.” First Republic has been under scrutiny as the weakest link in the U.S. banking system since the post-FTX collapse of Silicon Valley Bank (SVB) and Signature Bank in March 2022. To protect depositors, the FDIC is entering into a purchase and assumption agreement with JPMorgan Chase.

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