First Republic Bank, San Francisco, CA
Closing Date: May 1, 2023
Failed Bank Information for First Republic Bank, San Francisco, CA
| Bidder | Type 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 Bank | All deposits | 0% | $24.9B | $211.7B | NA | NA | 80% / 80% | Y | N |
| Other Bids: | ||||||||||
| Other | Modified Whole Bank | All Deposits (excluding consortium deposits) | 0% | $14.1B | $68.6B | NA | 80% | NA | Y | Y |
| Other | Modified Whole Bank | All Deposits (excluding consortium deposits) | 0% | $13.1B | $68.6B | NA | 80% | NA | Y | Y |
| Other | Modified Whole Bank | All Deposits (excluding consortium deposits) | 0% | $39.6B | $227.5B | NA | 80% | NA | Y | Y |
| Other | Whole Bank | All Deposits | 0% | $38.1B | $227.5B | NA | NA | 80% / 80% | Y | Y |
| Other | Whole Bank | All Deposits | 0% | $32.8B | $192.6B | NA | NA | 80% / 80% | Y | Y |
| Other | Modified Whole Bank | All Deposits | 0% | $20.0B | $87.1B | NA | 80% | NA | N | Y |
| Other | Modified Whole Bank | All Deposits | 0% | $15.5B | $87.1B | NA | 80% | NA | Y | Y |
| Other | Whole Bank | All Deposits | 0% | $30.8B | $211.7B | NA | NA | 80% / NA | Y | N |
| Other | Whole Bank | All Deposits | 0% | $26.5B | $176.8B | NA | NA | 80% / NA | Y | N |
| Other | Whole Bank | All Deposits | 0% | $25.8B | $173.8B | NA | NA | 80% / NA | Y | N |
| Other | Whole Bank | All Deposits | 0% | $38.6B | $175.9B | NA | NA | NA | Y | N |
| Other | Whole Bank | All Deposits | 0% | $28.6B | $227.5B | NA | 80% | NA | Y | N |
| Other | Modified Whole Bank | All Deposits | 0% | $17.8B | $70.2B | NA | 80% | NA | N | N |
| Other | Modified Whole Bank | All Deposits | 0% | $16.7B | $70.2B | NA | 80% | NA | N | N |
| Other | Modified Whole Bank | All Deposits | 0% | $17.2B | $70.2B | NA | 80% | NA | Y | N |
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.