JPMorgan Chase acquires First Republic Bank, closes Marin branch among several others | NorthBay biz
NorthBay biz

JPMorgan Chase acquires First Republic Bank, closes Marin branch among several others

first-republic-bank

The First Republic Bank, located on 1 Embarcadero Center in San Francisco is among the recent sites to close.

A First Republic Bank in Marin County has officially closed, the only North Bay location to shutter so far after JPMorgan Chase & Co. acquired the failed institution earlier this year, after it was seized by the Federal Deposit Insurance Corp.

A total of 86 offices, as listed on the First Republic’s website, are set to “permanently close,” the branch at 750 Redwood Highway Frontage Road in Mill Valley among them. Four branches—in Santa Rosa, St. Helena, Napa and San Rafael—are still operating.

First Republics that are now closed include the Mill Valley location, seven in San Francisco as well as four others in the Bay area, two in Southern California, one in Wyoming, three in New York City and two in Boston.

Despite First Republic having had an unusually high number of deposits above the FDIC insured limit of $250,000, JPMorgan Chase said in a May 1 press release it will assume all deposits insured and uninsured from First Republic. The remaining First Republic sites will eventually be rebranded as Chase locations.

List of closed locations:

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