Is your money still safe in the bank? Here's what we know after the collapse of First Republic Bank.
RELATED: Silicon Valley Bank, Signature Bank collapse. Could more banks follow?
“This part of the crisis is over,” JPMorgan Chase Bank chief executive Jamie Dimon told analysts Monday during a conference call addressing the bank’s takeover of First Republic Bank.
Regulators seized First Republic early Monday and sold its deposits and most assets to JPMorgan Chase. It was the second-largest bank failure in U.S. history behind Washington Mutual, which was also taken over by JPMorgan during the 2008 financial crisis. Two other midsize banks, Silicon Valley Bank and Signature Bank, collapsed in March.
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