FIRST REPUBLIC BANK Failed 2023

SAN FRANCISCO, CA · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

FIRST REPUBLIC BANK of SAN FRANCISCO, CA was closed on 2023-05-01. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to JPMORGAN CHASE BANK, N.A. (COLUMBUS, OH). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
4107
FDIC Certificate
59017
FDIC FIN
10543
Bank name
FIRST REPUBLIC BANK
Location
SAN FRANCISCO, CA
Failure date
2023-05-01
FDIC resolution date
2023-05-01
Charter type
State commercial bank, non-Federal Reserve member (FDIC-supervised)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$15,753M
Deposits at failure
$176,437M
Assets at failure
$212,639M
Acquiring bank
JPMORGAN CHASE BANK, N.A. (COLUMBUS, OH)