First Republic Bank

This article is about the defunct bank based in San Francisco, California. For the defunct bank based in Dallas, Texas, see First Republic Bank Corporation.
Not to be confused with Republic First Bancorp.

First Republic Bank
Company typePublic
ISINUS33616C1009
IndustryFinancial services
FoundedFebruary 5, 1985; 39 years ago (1985-02-05)
DefunctMay 1, 2023; 18 months ago (2023-05-01)
SuccessorsJPMorgan Chase (acquisition of most First Republic Bank assets)[1]
HeadquartersSan Francisco, California, U.S.
Areas served
Key people
ProductsConsumer banking
Commercial banking
Wealth management
Mortgages
RevenueIncrease US$6.75 billion (2022)
Increase US$1.67 billion (2022)
Total assetsIncrease US$212.6 billion (2022)
Total equityIncrease US$17.45 billion (2022)
Number of employees
7,213 (2022)
ParentJPMorgan Chase
SubsidiariesGradifi
Capital ratioTier 1 8.51% (Q4 2022)
Websitefirstrepublic.com
Footnotes / references
[2]

First Republic Bank was a commercial bank and provider of wealth management services headquartered in San Francisco, California, United States. It catered to high-net-worth individuals and operated 93 offices in 11 states, primarily in New York, California, Massachusetts, and Florida.[2] On May 1, 2023, as part of the 2023 United States banking crisis, the FDIC announced that First Republic had been closed and sold to JPMorgan Chase.[3][4]

  1. ^ Isidore, Chris; Dmitracova, Olesya (May 1, 2023). "JPMorgan Chase to buy most First Republic assets after bank fails". CNN. Retrieved May 1, 2023.
  2. ^ a b "First Republic Bank 2022 Form 10-K Annual Report". First Republic.
  3. ^ Farrell, Maureen; Smialek, Jeanna; Hirsch, Lauren (May 1, 2023). "First Republic Bank Is Seized by Regulators and Sold to JPMorgan Chase". The New York Times. Retrieved May 1, 2023.
  4. ^ "JPMorgan Chase Bank, National Association, Columbus, Ohio Assumes All the Deposits of First Republic Bank, San Francisco, California". FDIC. May 1, 2023. Retrieved May 1, 2023.