First Republic Bank has been closed by regulators, as this is the 2nd largest bank failure in U.S. history

(Forbes) JPMorgan Chase agreed to acquire First Republic after the bank was seized by financial regulators early on Monday, a deal that came after weekend-long negotiations led by federal agencies, who were attempting to prevent a third major bank collapse this year.

https://www.forbes.com/sites/siladityaray/2023/05/01/jpmorgan-chase-agrees-to-acquire-first-republic-banks-deposits-after-fdic-intervenes/?sh=2f8fb7645a94

🚨#BREAKING: First Republic Bank has been closed by regulators, as this is the 2nd largest bank failure in U.S. history. First Republic Bank will be acquired by JPMorgan after rescue efforts fails pic.twitter.com/0tB2lHkn2W

— R A W S A L E R T S (@rawsalerts) May 1, 2023