First Republic Bank is taken over by FDIC and sold to JPMorgan
DISCLOSE GIFTS FROM HARLAN CROW. I SAID THE GIFTS WERE PERSONAL HOSPITALITY. >>> TO THE LATEST BANKING CRISIS, THE FDIC HAS ACCEPTED A BID FROM JPMORGAN CHASE. OVER THE WEEKEND U.S. REGULATORS ASKED BIG BANKS TO SUBMIT THEIR BIDS TO TAKE OVER FIRST REPUBLIC AMONG JPMORGAN CHASE AND PNC ACCORDING TO PEOPLE CLOSE TO THE SITUATION BANK OF AMERICA DID NOT SUBMIT A BID ALTHOUGH THEY WERE INVOLVED IN EARLIER TALKS FIRST REPUBLIC SAW SHARES PLUNGE 90% AFTER DEPOSITS TUMD BLD BY MORE THAN $100 BILLION DURING THE FIRST QUARTER.
