One banking expert say that some former First Republic customers could benefit from the acquisition, since JPMorgan Chase has more New York City branches.
Make your contribution now and help Gothamist thrive in 2023.First Republic Bank has become the third major U.S. bank to collapse this year, according to aAll of its assets will be taken over by JPMorgan Chase Bank, which submitted a bid for the troubled bank’s deposits.
As of April 13 of this year, First Republic Bank had over $200 billion in total assets and over $100 billion in deposits.on single family, residential and commercial loans from First Republic Bank, a provision expected to minimize disruptions for those loan customers.
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FDIC accepts JPMorgan Chase Bank's purchase of First Republic BankSan Francisco-based First Republic is the third midsize bank to fail in two months.
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