Senior News Reporter

George Kelly

A dozen Bay Area locations have now permanently shuttered, with the closures landing sooner than an initial year-end estimate.

The bank is hoping to sell up to $100 billion in assets in addition to heavy layoffs, real estate reductions and cuts to executive pay. 


JPMorgan Chase laid off roughly 1,000 First Republic workers less than a month after acquiring the failed bank. 

‘They were the ecosystem,’ said one local commercial real estate leader of First Republic, which operated in San Francisco for close to 40 years.  


San Francisco-based First Republic is reportedly trying to cobble together a deal that would save it from FDIC receivership. 