First Republic Bank

First Republic Bank
Company typePublic company
ISINUS33616C1009
IndustryFinancial services
FoundedFebruary 5, 1985 (1985-02-05)
DefunctMay 1, 2023 (2023-05-01)
SuccessorsJPMorgan Chase (acquisition of most First Republic Bank assets)[1]
HeadquartersSan Francisco, California, U.S.
Areas served
Key people
ProductsConsumer banking
Commercial banking
Wealth management
Mortgages
RevenueIncrease US$6.75 billion (2022)
Increase US$1.67 billion (2022)
Total assetsIncrease US$212.6 billion (2022)
Total equityIncrease US$17.45 billion (2022)
Number of employees
7,213 (2022)
ParentJPMorgan Chase
SubsidiariesGradifi
Capital ratioTier 1 8.51% (Q4 2022)
Websitefirstrepublic.com
Footnotes / references
[2]

First Republic Bank was a commercial bank and provider of wealth management services headquartered in San Francisco, California. It catered to high-net-worth individuals and operated 93 offices in 11 states, primarily in New York, California, Massachusetts, and Florida.[2] On May 1, 2023, as part of the 2023 United States banking crisis, the FDIC announced that First Republic had been closed and sold to JPMorgan Chase.[3][4]

  1. ^ Isidore, Chris; Dmitracova, Olesya (May 1, 2023). "JPMorgan Chase to buy most First Republic assets after bank fails". CNN. Retrieved May 1, 2023.
  2. ^ a b "First Republic Bank 2022 Form 10-K Annual Report". First Republic.
  3. ^ Farrell, Maureen; Smialek, Jeanna; Hirsch, Lauren (May 1, 2023). "First Republic Bank Is Seized by Regulators and Sold to JPMorgan Chase". The New York Times. Retrieved May 1, 2023.
  4. ^ "JPMorgan Chase Bank, National Association, Columbus, Ohio Assumes All the Deposits of First Republic Bank, San Francisco, California". FDIC. May 1, 2023. Retrieved May 1, 2023.

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