# Why First Republic Bank Was Seized and Sold to JPMorgan?

An episode of [Patrick Boyle On Finance](https://invisiblenetwork.ai/podcast/1547740313), 6 May 2023, 14 min.

Audio: https://anchor.fm/s/fc0914e0/podcast/play/92761829/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fstaging%2F2024-9-8%2F387759595-44100-1-4f287028154ad0c5.mp3

Send us a textThe FDIC took possession of First Republic Bank on Monday, resulting in the third failure of an American bank since March.JPMorgan Chase, already the largest U.S. bank by several measures, emerged as the buyer in a weekend auction for First Republic. It will get all of the ailing bank’s deposits and a “substantial majority of assets.”Patrick's Books:Statistics For The Trading Floor: https://amzn.to/3eerLA0Derivatives For The Trading Floor: https://amzn.to/3cjsyPFCorp...

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