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Bank Failures

Bid Summary for First Republic Bank, San Francisco, CA

First Republic Bank, San Francisco, CA
Closing Date: May 1, 2023

Failed Bank Information for First Republic Bank, San Francisco, CA

BidderType of
Transaction
Deposits
Passing
Deposit
Premium %
Asset
Discount
Assets
Purchased
Option 1 - 
No Shared 
Loss
Option 2 -
Commerical 
Shared Loss
Option 3 - 
Commercial 
and Single Family 
Shared Loss
Purchase 
Money Note
Y/N
Equity
Appreciation 
Offer
Y/N
Winning Bidder:          
JPMorgan 
Chase N.A.
Columbus, OH
Whole BankAll deposits0%$24.9B$211.7BNANA80% / 80%YN
Other Bids:          
OtherModified 
Whole Bank
All Deposits 
(excluding 
consortium deposits)
0%$14.1B$68.6BNA80%NAYY
OtherModified 
Whole Bank
All Deposits 
(excluding
consortium deposits)
0%$13.1B$68.6BNA80%NAYY
OtherModified 
Whole Bank
All Deposits 
(excluding 
consortium deposits)
0%$39.6B$227.5BNA80%NAYY
OtherWhole BankAll Deposits0%$38.1B$227.5BNANA80% / 80%YY
OtherWhole BankAll Deposits0%$32.8B$192.6BNANA80% / 80%YY
OtherModified 
Whole Bank
All Deposits0%$20.0B$87.1BNA80%NANY
OtherModified 
Whole Bank
All Deposits0%$15.5B$87.1BNA80%NAYY
OtherWhole BankAll Deposits0%$30.8B$211.7BNANA80% / NAYN
OtherWhole BankAll Deposits0%$26.5B$176.8BNANA80% / NAYN
OtherWhole BankAll Deposits0%$25.8B$173.8BNANA80% / NAYN
OtherWhole BankAll Deposits0%$38.6B$175.9BNANANAYN
OtherWhole BankAll Deposits0%$28.6B$227.5BNA80%NAYN
OtherModified 
Whole Bank
All Deposits0%$17.8B$70.2BNA80%NANN
OtherModified
Whole Bank
All Deposits0%$16.7B$70.2BNA80%NANN
OtherModified
Whole Bank
All Deposits0%$17.2B$70.2BNA80%NAYN

Other Bidder Names, City, ST:

Citizens Bank N.A., Providence, RI 
Fifth Third Bank N.A., Cincinnati, OH
PNC Bank N.A., Wilmington, DE

Notes:

  • The winning bidder’s acquisition of all the deposits was the least costly resolution compared to a liquidation alternative. The liquidation alternative was valued using valuation models to estimate the market value of the assets.
  • There is no linkage between bidder names and bids, except in the case of the winning bid.
  • There may be more bids than bidders because one or more bidders submitted more than one bid.
  • For more information on the bid disclosure policy, see Failed Financial Institution Bid Disclosure Policy.

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Last Updated: May 31, 2023