JPMorgan Chase Bank will assume all the deposits of First Republic Bank, including all uninsured deposits and nearly all of First Republic’s assets, state regulators said Monday.

San Francisco-based First Republic Bank was closed Monday by the California Department of Financial Protection and Innovation.

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Keith Burbank is currently a fulltime reporter covering Alameda County and Oakland news for Bay City News. He has also worked on the Data Points project for Local News Matters, finding trends and stories about the region through data. In 2019, he was a California Fellow at the USC Annenberg Center for Health Journalism, producing a series about homeless deaths in Santa Clara County. He worked as a swing shift editor for the newswire for several years as well. Outside of journalism, Keith enjoys computer programming, math, economics and music.