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First Republic customers will keep all of their money. But the company’s stock is worth zero in its current form.

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JPMorgan Chase will protect all insured and uninsured deposits for customers at First Republic Bank as part of its acquisition of the bank, the merging financial institutions said.

JPMorgan Chase & Co. will protect all insured and uninsured deposits for customers at First Republic Bank as part of its acquisition of the bank, the merging financial institutions said Monday.

As JPMorgan Chase JPM announced its victory in a government-led auction of First Republic, the New York–based bank said it would step in starting Monday to serve all of the clients of the San Francisco–based First Republic and protect its deposits.

 

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