Bank Failure
FIRST REPUBLIC BANK
Closed May 1, 2023 · SAN FRANCISCO , CA · FDIC Cert #59017 .
- Closing date
- May 1, 2023
- Headquarters
- SAN FRANCISCO , CA
- FDIC Certificate
- 59017
- Total assets at closing
- $212,638,872,000
- Total deposits at closing
- $176,436,706,000
- Estimated loss to DIF
- $15,753,256,000
- Resolution type
- other
- Acquirer
- JPMORGAN CHASE BANK, N.A. (FDIC Cert #10543)
Context
On May 1, 2023, regulators closed FIRST REPUBLIC BANK , headquartered in SAN FRANCISCO , CA . At closing, the institution held approximately $212,638,872,000 in assets and $176,436,706,000 in deposits . The FDIC arranged a resolution under which JPMORGAN CHASE BANK, N.A. acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $15,753,256,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 2023
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 2023-11-03 | CITIZENS BANK | SAC CITY , IA | $60,448,000 |
| 2023-07-28 | HEARTLAND TRI-STATE BANK | ELKHART , KS | $139,446,000 |
| 2023-03-12 | SIGNATURE BANK | NEW YORK , NY | $110,363,650,000 |
| 2023-03-10 | SILICON VALLEY BANK | SANTA CLARA , CA | $209,026,000,000 |
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