JPMorgan Chase & Co published a presentation ahead of its investor day on Monday in which it claimed that its net interest income would rise by $3 billion this year following the acquisition of the failed First Republic Bank.
Shut down last month, First Republic...
U.S. bank lending fell marginally during the week after the failure of First Republic Bank, data from the Federal Reserve on Friday revealed. The bank, which was acquired by JPMorgan Chase & Co, was the United States' second-largest single bank failure.
Commercial bank lending declined...
Regulators from the Federal Deposit Insurance Corporation seized the struggling First Republic Bank early on Monday, agreeing to sell the bulk of the bank's operations to JPMorgan Chase. This constitutes the largest banking failure since the 2008 financial crisis.
JPMorgan agreed to seize $173 billion...
The auction for the struggling First Republic Bank is underway, with Guggenheim Securities advising the U.S. Federal Deposit Insurance Corp (FDIC) on the sale process. Approximately half a dozen bidders have entered the race to acquire the bank, sources familiar with the matter reported.
Among those...
The Federal Deposit Insurance Corporation is currently approaching banks to inquire about their interest in purchasing the struggling First Republic Bank, a source familiar with the matter claimed. The source added the regulators are eager to secure a deal for the bank soon.
Bank of America...
First Republic will likely be the latest victim of the U.S. banking crisis. According to Reuters, the bank will be taken over by Federal Deposit Insurance Corporation (FDIC) after recent rescue attempts didn’t have a positive outcome.
Unlike several other mid-sized banks like Signature Bank...
