JPMorgan Shuttering 25 Percent of First Republic Bank Branches in 2023

A man stands outside First Republic Bank in downtown San Francisco, Calif. Lear Zhou/The Epoch Times

JPMorgan Chase will shutter more than 20 First Republic branches by the end of this year, following its takeover of the failed bank, the company announced on June 1.

First Republic has 84 branches across eight states, including California, Connecticut, and Florida, according to its official website.