Coverage dated April 28, 2023

JPMorgan, PNC In Fray For First Republic As FDIC Calls For Bids, Report

Headline from Investopedia

The Federal Deposit and Insurance Commission wants to receive all bids for First Republic by Sunday with JPMorgan and PNC said to be leading the chase.

Investopedia's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.

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Reports & sources

6 articles, oldest first.

Fortune
FDIC asks JPMorgan Chase, others to submit final bids for First Republic Bank, whose shares are down 97% this year (opens Fortune)
Published Apr 28, 2023
Fortune's feed description
Weighing on First Republic’s balance sheet is a mountain of low-interest loans.
Investopedia
JPMorgan, PNC In Fray For First Republic As FDIC Calls For Bids, Report (opens Investopedia)
Published Apr 28, 2023
Investopedia's feed description
The Federal Deposit and Insurance Commission wants to receive all bids for First Republic by Sunday with JPMorgan and PNC said to be leading the chase.
FOX Business
JPMorgan, PNC bid to buy First Republic Bank amid possible FDIC takeover: report (opens FOX Business)
Published Apr 28, 2023
FOX Business's feed description
JPMorgan Chase & Co. and PNC Financial Services Group are expected to bid to buy First Republic Bank after it is taken over by the FDIC.
FOX Business
JPMorgan, PNC bidding to by First Republic Bank after FDIC takeover (opens FOX Business)
Published Apr 28, 2023
FOX Business's feed description
JPMorgan Chase & Co. and PNC Financial Services Group are expected to bid to buy First Republic Bank after it is taken over by the FDIC.
Politico
FDIC, Wall Street scramble to pull together sale of First Republic Bank (opens Politico)
Published Apr 28, 2023
Politico's feed description
Formal bids for First Republic — which has seen heavy deposit outflows and suffered massive share price declines in recent weeks — are due to the FDIC by the middle of the day on Sunday.
Wall Street Journal
WSJ News Exclusive | JPMorgan, PNC Bidding for First Republic as Part of FDIC Takeover (opens Wall Street Journal)
Published Apr 28, 2023
Wall Street Journal's feed description
A government seizure, then sale of First Republic could come as soon as this weekend. Big banks including JPMorgan and PNC are among those vying to buy the troubled lender.