JPMorgan Chase’s Takeover of First Republic: What to Know

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JPMorgan Chase’s Takeover of First Republic: What to Know
A worker cleans windows at a First Republic Bank office in San Francisco, Calif., on May 1, 2023. Justin Sullivan/Getty Images
Andrew Moran
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JPMorgan Chase will acquire most of First Republic Bank’s assets for $10.6 billion after U.S. regulators seized control of the embattled institution and facilitated its sale over the weekend.

President Joe Biden and JPMorgan Chase CEO Jamie Dimon reiterated that the worst of the crisis is over.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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