
First RepublicBank Corporation FDIC Fdic Form
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People also ask
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What will happen to my First Republic Bank account?
First Republic deposit accounts transitioned to JPMorgan Chase, effective May 25, 2024. View our Deposit Accounts FAQ for more information, including how to access your accounts on JPMorgan Chase online and mobile banking.
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Is First Republic Bank FDIC insured?
On Monday, May 1, 2023, First Republic Bank was closed by the California Department of Financial Protection and Innovation and the Federal Deposit Insurance Corporation (FDIC) was appointed Receiver. No advance notice is given to the public when a financial institution is closed.
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Is First Bank FDIC insured?
FirstBank is insured by the Federal Deposit Insurance Corporation (FDIC), an independent government agency that protects depositors against the loss of their deposits (the money they keep in an account) if an FDIC-insured bank fails.
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What is the status of First Republic Bank?
First Republic was seized by the Federal Deposit Insurance Corporation (FDIC) on May 1, 2023. The FDIC held a “highly competitive” bidding process, ultimately selling the institution to JPMorgan Chase later that day.
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What happens to your money if a bank closes?
The FDIC insures bank accounts for up to $250,000 per depositor, per ownership category, per bank. If a bank fails, insured deposits will be moved to another FDIC-insured bank or paid out. You'll usually get a Receiver's Certificate for money that isn't covered by FDIC insurance.
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What will happen to my First Republic Bank account?
First Republic deposit accounts transitioned to JPMorgan Chase, effective May 25, 2024. View our Deposit Accounts FAQ for more information, including how to access your accounts on JPMorgan Chase online and mobile banking.
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Is my money safe with First Republic Bank?
IS MY MONEY SAFE? Yes! No one lost any money on deposit as a result of the closure of this bank.
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Is my money safe if a bank fails?
For the most part, if you keep your money at an institution that's FDIC-insured, your money is safe — at least up to $250,000 in accounts at the failing institution. You're guaranteed that $250,000, and if the bank is acquired, even amounts over the limit may be smoothly transferred to the new bank.
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