A coalition of a dozen banks pulled together a $30 billion funding package for First Republic last month that, for awhile, seemed to stanch the bleeding out of the bank.

Source: https://www.columbian.com/news/2023/may/01/first-republic-bank-seized-sold-in-fire-sale-to-jpmorgan/

Aftershocks from its failure rattled the financial system, leading to the failure of Signature Bank and First Republic Bank, and putting several other banks under financial strain.

Source: https://abc11.com/silicon-valley-bank-announces-layoffs-first-citizens-federal-reserve-hiked-interest-rates/13295993/

Allen: So, with the close of First Republic Bank and JPMorgan Chase kind of stepping in there, what are your thoughts on how that shook out and the federal government’s role in that?

Source: https://www.dailysignal.com/2023/05/15/is-money-safe-financial-expert-explains-bank-failures-questions-activity-jpmorgan-chase/?utm_source=rss&utm_medium=rss&utm_campaign=is-money-safe-financial-expert-explains-bank-failures-questions-activity-jpmorgan-ch

Already, First Republic Bank and Signature Bank are under stress with rapidly falling stock prices and there may be more.

Source: https://seekingalpha.com/article/4586930-biotechs-reel-from-svb-collapse-but-not-all-bad?source=feed_all_articles

Anat Admati, a professor at Stanford’s Graduate School of Business, echoed the sentiment, noting that the FDIC appears to have helped ease the acquisition of First Republic.

Source: https://www.1310kfka.com/abc-news/business/05/first-republic-bank-fails-was-it-a-bailout/

And by being prepared, we were able to do the acquisition of First Republic and only that, onboard thousands and thousands of clients coming for those banks, in the private bank, in the commercial bank, in a small business.

Source: https://seekingalpha.com/article/4609110-jpmorgan-chase-and-co-jpm-bernsteins-39th-annual-strategic-decisions-conference-2023?source=feed_all_articles

A near-fatality was San Francisco-based First Republic Bank, which was rescued after 11 major financial institutions threw it a $30 billion lifeline Thursday.

Source: https://www.postandcourier.com/business/sc-bankers-on-alert-but-not-alarmed-about-the-industrys-latest-crisis/article_53bd51d4-c3a7-11ed-8247-e3d6e4b32a99.html

Another US bank, Signature Bank, was also shut down by the Federal Deposit Insurance Corporation (FDIC) and the First Republic Bank has been aided by its rivals who are clearly worried about contagion.

Source: https://www.irishexaminer.com/business-columnists/arid-41096776.html

April 28 -The FDIC is prepared to place First Republic under receivership imminently, a source says.

Source: https://business.inquirer.net/398671/the-road-to-first-republic-banks-collapse

Arguably the greatest impact of the Fed’s rate hike effort was its effect on regional banks; three of the four largest bank failures in American history have come over the last two months in First Republic, Silicon Valley and Signature Banks.

Source: https://www.forbes.com/sites/dereksaul/2023/05/24/federal-reserve-officials-divided-over-interest-rate-path-forward-minutes-show/

As for First Republic, it had substantial losses on its loan book.

Source: https://seekingalpha.com/article/4587058-regional-banks-keep-crashing-where-things-now-stand?source=feed_all_articles

Boston Partners acquired a new position in First Republic Bank in the third quarter valued at approximately $81,253,000.

Source: https://www.americanbankingnews.com/2023/02/27/alphacrest-capital-management-llc-raises-holdings-in-first-republic-bank-nysefrc.html

By May 1, regulators announced that First Republic was defunct and JPMorgan would acquire its assets, including $173 billion of loans, $30 billion of securities, and $92 billion of deposits.

Source: https://fortune.com/2023/05/11/jamie-dimon-jpmorgan-chase-wont-buy-more-banks-first-republic/

Citizens Financial Group Inc, PNC Financial Services Group and JPMorgan Chase & Co are among bidders vying for First Republic in an auction process being run by the Federal Deposit Insurance Corp, according to sources familiar with the matter.

Source: https://www.shorenewsnetwork.com/2023/04/30/regulators-auction-first-republic/

Concerns about the strength of U.S. banks have weighed on markets lately, especially the spotlight on First Republic Bank.

Source: https://rapidcityjournal.com/lifestyles/technology/stock-market-today-asian-shares-rise-despite-banking-fears/article_e6c44e71-1756-56a8-99ed-d9289bab39bb.html

Especially as a few days ago, the third FDIC-insured bank in the United States collapsed - after Signature Bank and Silicon Valley Bank in March 2023, the First Republic Bank followed in May 2023.

Source: https://seekingalpha.com/article/4601436-us-bancorp-the-risk-of-catching-a-falling-knife?source=feed_all_articles

Executives at Silicon Valley Bank, Signature Bank and First Republic Bank were paid millions of dollars over their tenures up until their banks failed, the bulk of the compensation coming in the form company stock.

Source: https://bankerandtradesman.com/bank-ceo-pay-in-focus-as-failed-bank-heads-testify/

Farmland Partners Inc. (NYSE:FPI) Shares Sold by First Republic Investment Management Inc.

Source: https://www.americanbankingnews.com/2023/10/29/amicus-therapeutics-inc-nasdaqfold-position-boosted-by-vanguard-personalized-indexing-management-llc.html

FILE - A pedestrian walks past a First Republic Bank in San Francisco on April 26, 2023.

Source: https://www.gjsentinel.com/news/us/first-republic-in-limbo-as-us-regulators-juggle-banks-fate/article_9b9f82f2-dece-5adb-a785-92b1e86c51c7.html

FILE PHOTO: A person walks past a First Republic Bank branch in Midtown Manhattan in New York City, New York, U.S., March 13, 2023.

Source: https://gazette.com/news/us-world/bank-rescues-ease-crisis-fears-but-investors-worry-its-not-enough/article_0515d191-577e-57a3-b4d6-bddb42f01461.html