JPMorgan Chase acquires failing First Republic Bank after U.S. government takeover.

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[{"selector":"#anim-3f8bc642-5dda-4aaf-81c1-4b660b788a47","keyframes":{"opacity":[0,1]},"delay":100,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6d94683b-756f-41c1-9c39-c1011a65b0e2","keyframes":{"transform":["translate3d(0px, 147.24559%, 0)","translate3d(0px, 0px, 0)"]},"delay":100,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8166e8c3-1362-482e-a698-d20c0589ef62 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-33.74023429421082%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":9000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] On Monday, JPMorgan Chase disclosed that it had acquired deposits from First Republic Bank as well as "a significant amount of their assets and certain liabilities.

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The New York Stock Exchange suspended trading as its shares fell sharply. Over the weekend.

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Our government invited us and others to step up, and we did," JPMorgan Chase CEO Jamie Dimon stated.

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First Republic is the third and largest U.S. lender to fail this year. Federal officials said it does not indicate banking industry issues.

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