First Republic stock crashes 46% as regulators seize the bank and JPMorgan takes it over
First Republic marks the second-largest bank failure in US history, with $230 billion in assets as of April 13. It's also the third regional bank to be taken over by federal regulators following SVB and Signature Bank.
As part of the deal, First Republic's 84 offices in eight states will reopen as JPMorgan branches on Monday. The latter will not, however, assume First Republic's corporate debt or preferred stock.in March when a group of 11 banks led by JPMorgan, Bank of America, and Wells Fargo provided a lifeline in attempt to save it from meeting the same fate as Silicon Valley Bank and Signature Bank.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
First Republic sinks after JPMorgan takeover, while SoFi and Li Auto are also on the moveJPMorgan Chase & Co. will take over First Republic Bank, whose shares are sinking ahead of Monday's open. Iveric, Li Auto and SoFi Technologies are among...
Les mer »
JPMorgan shares rise after winning First Republic auctionJPMorgan Chase shares rose 3% in early premarket trade after winning the auction to buy First Republic Bank. JPMorgan said it expects the deal to be modestly...
Les mer »
Troubled First Republic Bank seized by regulators and sold to JPMorgan ChaseRegulators seized control of First Republic Bank early Monday, making it the third financial institution taken under government control this year, then promptly accepted a bid from JPMorgan Chase for virtually all of First Republic's assets.
Les mer »
Gold, silver climb as JPMorgan wins auction for First Republic businessGold and silver prices climbed on Monday following JPMorgan Chase & Co. winning an auction to take over troubled First Republic Bank's business and deposits...
Les mer »
First Republic Bank seized, sold to JPMorgan ChaseRegulators had been working to find a way forward before U.S. stock markets opened Monday.
Les mer »
First Republic Bank seized, sold to JPMorgan ChaseRegulators have seized troubled First Republic Bank and sold all of its deposits and most of its assets to JPMorgan Chase Bank in a bid to head off further banking turmoil in the U.S. First Republic on Monday becomes the third midsize bank to fail in two months.
Les mer »