Account details and annual percentage yields (APYs) are accurate as of August 26, 2021.įirst Republic Bank offers four checking accounts with varying minimum balance requirements, features and benefits. This review focuses on First Republic Bank’s personal banking services. All 84 First Republic Bank locations are now branches of Chase Bank.Īs a full-service bank, First Republic Bank offered a wide range of personal and business banking products and services with a focus on private banking.
Like SVB, First Republic Bank was a Bay Area-based bank focused on serving wealthy clients whose deposits often exceeded the $250,000 FDIC insurance limit.įirst Republic Bank deposits have been transferred to JPMorgan Chase Bank, so former First Republic clients can bank as usual at Chase Bank. history: Silicon Valley Bank (SVB) and Signature Bank. The collapse of First Republic Bank occurred just seven weeks after two of the largest bank failures in U.S. banks by assets at the time of failure, with over $229 billion in assets and 84 offices in eight states. The failed bank’s deposits and assets were sold to JPMorgan Chase Bank in a purchase agreement with the FDIC.įounded in 1985, First Republic Bank was one of the largest U.S. First Republic Bank was shut down on May 1, 2023.
