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A pedestrian walks by a First Republic bank on April 26, 2023 in San Francisco, California.
First Republic stock has plummeted in the wake of Silicon Valley Bank's demise.

Justin Sullivan/Getty Images

  • First Republic Bank tumbled 46% Monday after it became the second-largest bank failure in US history.
  • The bank was seized by regulators and will be taken over by JPMorgan.
  • The FDIC said JPMorgan will assume deposits of about $92 billion.

Shares of First Republic Bank dropped 46% in early trading Monday following news that the firm will be taken over by JPMorgan after being seized by regulators.

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Markets, MI Exclusive, first republic bank, bank failure, bank crisis, JPMorgan, Regulators, FDIC, Stock Market, Bank Stock, Fed, Deposits, Interest Rates, depositors
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First Republic stock crashes 46% as regulators seize the bank and JPMorgan take…