JPM has just released a press release with more details [0] - Acquisition of the substantial majority of First Republic Bank’s assets, including approximately

JPM has just released a press release with more details [0] - Acquisition of the substantial majority of First Republic Bank’s assets, including approximately $173 billion of loans and approximately $30 billion of securities - Assumption of approximately $92 billion of deposits, including $30 billion of large bank deposits, which will be repaid post-close or eliminated in consolidation - FDIC will provide loss share agreements covering acquired single-family residential mortgage loans and commercial loans, as well as $50 billion of five-year, fixed-rate term financing - JPMorgan Chase is not assuming First Republic’s corporate debt or preferred stock https://www.jpmorganchase.com/ir/news/2023/jpmc-acquires-substantial-majority-of-assets-and-assumes-certain-liabilities-of-first-republic-bank https://www.jpmorganchase.com/ir/news/2023/jpmc-acquires-sub...