First Republic Bank

By KIMBERLEY HAAS Leaders at JPMorgan Chase have announced they acquired the substantial majority of assets and assumed the deposits of First Republic Bank from the Federal Deposit Insurance Corporation. According to a press release issued on Monday, JPMorgan Chase will assume about $92 billion of deposits, including $30 billion of large bank deposits, to be repaid post-close or eliminated in consolidation. The financial services firm, with operations worldwide, will acquire about $173 billion of loans and about $30 billion of securities, according to the press release. Jamie Dimon, chairman and CEO of JPMorgan Chase, said government officials invited them and others to step up and take over the troubled First Republic. Shares of First Republic dropped on Friday and…