Why First Republic Bank Collapsed - WSJ
As part of the deal reached Monday morning, JPMorgan said it will assume all of First Republic’s $92 billion in deposits—insured and uninsured. It is also buying most of the bank’s assets, including about $173 billion in loans and $30 billion in securities. The FDIC will share losses with JPMorgan on First Republic’s loans. First Republic’s 84 branches will reopen as part of JPMorgan Monday during normal business hours, and customers will have full access to their deposits, the FDIC said.