JPMorgan Chase Acquires Failed First Republic Bank's Deposits and Assets 

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1. The purchase of First Republic Bank's deposits and a significant portion of their assets and liabilities has been made by JPMorgan Chase.

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First Republic Bank, headquartered in California and with branches in eight states

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Following the takeover by the Federal Deposit Insurance Corporation (FDIC) during the weekend, a competitive bidding process was held to oversee the sale of First Republic Bank.

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According to JPMorgan Chase CEO Jamie Dimon, this acquisition will modestly benefit their company

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