JPMorgan Chase to buy most First Republic assets after bank becomes third in US to fail since March

Most assets of First Republic Bank are being purchased by JPMorgan Chase in a deal announced Monday that was arranged by the Federal Deposit Insurance Corporation, the independent government agency that insures deposits for bank customers.

source https://www.cnn.com/2023/05/01/business/first-republic-purchase-hnk-intl/index.html