FRC First Republic Bank

10:12 ET -- First Republic Bank is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. First Republic Bank was seized by regulators early Monday morning, and struck a deal to sell the bulk of its operations to JPMorgan Chase & Co., marking the second-largest U.S. bank failure. The bank had teetered for weeks following the failures early in March of two large U.S. regional banks, Silicon Valley Bank and Signature Bank. First Republic's struggles accelerated after the San Francisco company reported first-quarter results on April 24, which showed its deposits fell by $100 billion during the banking crisis. Net income dropped by a third. Dow Jones & Co. owns Factiva. (chris.wack@wsj.com)

(END) Dow Jones Newswires

May 01, 2023 10:27 ET (14:27 GMT)

First Republic Bank (NYSE:FRC)
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