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September 01, 2020 1:32pm
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FDIC seizes First Republic; startup funding shrinks: The National Observer May 1, 2023

In the third bank failure since March, the FDIC has seized First Republic Bank and entered into an agreement to sell it to JPMorgan Chase & Co. The deal came after the bank's stock began collapsing after executives revealed in its latest earnings report that $100 billion in deposits had been withdrawn from its vaults in March.
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