First Republic becomes second-largest bankrupt in US history
First Republic Bank in a little over a month ousted Silicon Valley to become the second-largest bank failure in US history.
Among the biggest US bank failures this century, three have occurred in the past few weeks: Silicon Valley Bank and Signature Bank collapsed in mid-March and First Republic last week.
As of April 13, First Republic had $229 billion in assets, right behind Washington Mutual, which imploded in 2008 with $307 billion in assets and $188 billion in total deposits. At the time, the FDIC seized the troubled bank and sold it to JPMorgan for $1.9 billion.
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