The Federal Deposit Insurance Corporation (FDIC) announced that 84 First Republic Bank offices in eight states will reopen today as affiliates of JPMorgan Chase. All depositors of the bank will become JPMorgan depositors and will have access to all of their deposits. Deposits will continue to be insured by the FDIC and customers will not need to change their banking relationship in order to retain their deposit insurance coverage up to the applicable limits.

It is reported that the California Department of Financial Protection and Innovation designated the Federal Deposit Insurance Corporation of the United States as the receiver of the First Republic Bank. At present, the total assets of the First Republic Bank are about 229.1 billion US dollars. purchase offer. Total deposits at First Republic Bank are about $103.9 billion