Banks including JPMorgan Chase & Co. and PNC Financial Services Group Inc. are among banks plannning to bid for First Republic Bank after the government takes over the lender, Wall Street Journal reported, citing unidentified people familiar with the matter. A seizure and sale of First Republic Bank by the Federal Deposit Insurance Corp. could come as soon as this weekend, the newspaper saidNOTE: First Republic’s Fate Uncertain After Stock’s Harrowing TumbleTo view the source of this information, click hereTo contact the reporter on this story:Eduard Gismatullin in Bangkok at egismatullin@bloomberg.netTo contact the editor responsible ...

Source: Wall Street Journal April 29, 2023 07:51 UTC