22 "It's a Privilege to Buy You" : JPMorgan takes over the failing First Republic Bank, FRC shares trading at $1.90. (media.communities.win) posted 1 year ago by TheImpossible1 1 year ago by TheImpossible1 +30 / -8 22 comments download share 22 comments share download save hide report block hide replies
Get this.
JP Morgan will pay approximately $10 B
For $295B in total assets
The deposits alone are >$95 B
Gee. Awfully convenient pickup.
https://www.reuters.com/business/finance/california-financial-regulator-takes-possession-first-republic-bank-2023-05-01/
JPM tried to save it by pumping money in.
I think they have a valid claim to own it given their efforts.