Posted inLocal News

JPMorgan buys SF-based First Republic Bank assets; latest casualty of uncertain economy

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. Less than two months ago, Santa Clara-based Silicon Valley Bank collapsed. […]