{"id":244488,"date":"2023-06-01T17:38:53","date_gmt":"2023-06-01T17:38:53","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=244488"},"modified":"2023-06-01T17:40:39","modified_gmt":"2023-06-01T17:40:39","slug":"jpmorgan-shuts-almost-25-of-first-republic-branches","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/jpmorgan-shuts-almost-25-of-first-republic-branches\/","title":{"rendered":"JPMorgan Shuts Almost 25% of First Republic Branches"},"content":{"rendered":"<p style=\"text-align: justify;\"><a href=\"https:\/\/www.bnreport.com\/en\/\"><strong>BNR<\/strong><\/a> &#8211; JPMorgan Chase &amp; Co. will close 21 First Republic Bank locations before the end of 2023.<\/p>\n<p style=\"text-align: justify;\">According to a JPMorgan representative, the decision comes about as\u00a0the bank incorporates the bankrupt institution into its operations. The branches\u00a0make up almost 25 per cent\u00a0of First Republic\u2019s 84 branches spread across eight states.<\/p>\n<p style=\"text-align: justify;\">In May, Regulators\u00a0acquired the lender and sold it to JPMorgan. It was notable for being the largest to fail since the <a href=\"https:\/\/en.wikipedia.org\/wiki\/2007%E2%80%932008_financial_crisis\">financial crisis in 2008<\/a>.<\/p>\n<p style=\"text-align: justify;\">\u201cThese locations have relatively low transaction volumes,\u201d said the spokesperson. \u201c[They] are generally within a short drive from another First Republic office.\u201d<\/p>\n<h3 style=\"text-align: left;\"><strong>Employees\u2019 Transition to Other JPMorgan Positions<\/strong><\/h3>\n<p style=\"text-align: justify;\">Approximately 100 employees harmed by the locations\u2019\u00a0closures will be given six-month transition tasks. Following that, they will be able to apply for additional positions at JPMorgan, which presently has 13,000 vacant positions.<\/p>\n<p style=\"text-align: justify;\">According to an individual familiar with the matter, over 1,000 employees were warned last week that they would be laid off. Other employees, on the other hand, have been granted temporary positions for periods that range from\u00a0three months to a year.<\/p>\n<p style=\"text-align: justify;\">JPMorgan is the biggest lender in the United States, with over 296,000 personnel and 4,800 offices. Executives told investors last month that it intends to invest in new sites while also growing its digital capabilities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BNR &#8211; JPMorgan Chase &amp; Co. will close 21 First Republic Bank locations before the end of 2023. According to a JPMorgan representative, the decision comes about as\u00a0the bank incorporates the bankrupt institution into its operations. The branches\u00a0make up almost 25 per cent\u00a0of First Republic\u2019s 84 branches spread across eight states. In May, Regulators\u00a0acquired the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":244489,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202,2081],"tags":[11482,278,11481,11478,8141,11479,11480],"class_list":["post-244488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-2081","tag-2008-financial-crisis","tag-featured","tag-financial-crisis","tag-first-republic-branches","tag-jpmorgan","tag-lender","tag-us-lender"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>JPMorgan Shuts Almost 25% of First Republic Branches - Business News Report<\/title>\n<meta name=\"description\" content=\"BNR - JPMorgan Chase &amp; Co. will close 21 First Republic Bank locations before the end of 2023, according to a JPMorgan representative.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/jpmorgan-shuts-almost-25-of-first-republic-branches\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JPMorgan Shuts Almost 25% of First Republic Branches - Business News Report\" \/>\n<meta property=\"og:description\" content=\"BNR - JPMorgan Chase &amp; Co. will close 21 First Republic Bank locations before the end of 2023, according to a JPMorgan representative.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bnreport.com\/en\/jpmorgan-shuts-almost-25-of-first-republic-branches\/\" \/>\n<meta property=\"og:site_name\" content=\"Business News Report\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Business-NewsReport-328225811095934\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-01T17:38:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-01T17:40:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.bnreport.com\/wp-content\/uploads\/2023\/06\/JPMorgan.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"infopal11\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@BNReport\" \/>\n<meta name=\"twitter:site\" content=\"@BNReport\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"infopal11\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/jpmorgan-shuts-almost-25-of-first-republic-branches\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/jpmorgan-shuts-almost-25-of-first-republic-branches\\\/\"},\"author\":{\"name\":\"infopal11\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/person\\\/19d1c5a2dd7f60584a09de4a7805d68f\"},\"headline\":\"JPMorgan Shuts Almost 25% of First Republic Branches\",\"datePublished\":\"2023-06-01T17:38:53+00:00\",\"dateModified\":\"2023-06-01T17:40:39+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/jpmorgan-shuts-almost-25-of-first-republic-branches\\\/\"},\"wordCount\":216,\"publisher\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/jpmorgan-shuts-almost-25-of-first-republic-branches\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/JPMorgan.jpg\",\"keywords\":[\"2008 Financial Crisis\",\"Featured\",\"Financial Crisis\",\"First Republic Branches\",\"JPMorgan\",\"Lender\",\"US Lender\"],\"articleSection\":[\"Finance\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/jpmorgan-shuts-almost-25-of-first-republic-branches\\\/\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/jpmorgan-shuts-almost-25-of-first-republic-branches\\\/\",\"name\":\"JPMorgan Shuts Almost 25% of First Republic Branches - Business News Report\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/jpmorgan-shuts-almost-25-of-first-republic-branches\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/jpmorgan-shuts-almost-25-of-first-republic-branches\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/JPMorgan.jpg\",\"datePublished\":\"2023-06-01T17:38:53+00:00\",\"dateModified\":\"2023-06-01T17:40:39+00:00\",\"description\":\"BNR - JPMorgan Chase & Co. will close 21 First Republic Bank locations before the end of 2023, according to a JPMorgan representative.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/jpmorgan-shuts-almost-25-of-first-republic-branches\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.bnreport.com\\\/en\\\/jpmorgan-shuts-almost-25-of-first-republic-branches\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/jpmorgan-shuts-almost-25-of-first-republic-branches\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/JPMorgan.jpg\",\"contentUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/JPMorgan.jpg\",\"width\":1920,\"height\":1080,\"caption\":\"HONG KONG, CHINA \u2013 NOVEMBER 02 2022: The famous investment bank JP Morgan is located in the office building of Hong Kong's Central Financial District.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/jpmorgan-shuts-almost-25-of-first-republic-branches\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"\u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629\",\"item\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"JPMorgan Shuts Almost 25% of First Republic Branches\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/\",\"name\":\"Business News Report\",\"description\":\"Latest News on the World of Politics &amp; Business\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#organization\",\"name\":\"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/LOGO2.png\",\"contentUrl\":\"https:\\\/\\\/www.bnreport.com\\\/wp-content\\\/uploads\\\/2020\\\/12\\\/LOGO2.png\",\"width\":200,\"height\":50,\"caption\":\"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a\"},\"image\":{\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/Business-NewsReport-328225811095934\\\/\",\"https:\\\/\\\/x.com\\\/BNReport\",\"https:\\\/\\\/www.instagram.com\\\/business.newsreport\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/#\\\/schema\\\/person\\\/19d1c5a2dd7f60584a09de4a7805d68f\",\"name\":\"infopal11\",\"url\":\"https:\\\/\\\/www.bnreport.com\\\/en\\\/author\\\/infopal11\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"JPMorgan Shuts Almost 25% of First Republic Branches - Business News Report","description":"BNR - JPMorgan Chase & Co. will close 21 First Republic Bank locations before the end of 2023, according to a JPMorgan representative.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.bnreport.com\/en\/jpmorgan-shuts-almost-25-of-first-republic-branches\/","og_locale":"en_US","og_type":"article","og_title":"JPMorgan Shuts Almost 25% of First Republic Branches - Business News Report","og_description":"BNR - JPMorgan Chase & Co. will close 21 First Republic Bank locations before the end of 2023, according to a JPMorgan representative.","og_url":"https:\/\/www.bnreport.com\/en\/jpmorgan-shuts-almost-25-of-first-republic-branches\/","og_site_name":"Business News Report","article_publisher":"https:\/\/www.facebook.com\/Business-NewsReport-328225811095934\/","article_published_time":"2023-06-01T17:38:53+00:00","article_modified_time":"2023-06-01T17:40:39+00:00","og_image":[{"width":1920,"height":1080,"url":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2023\/06\/JPMorgan.jpg","type":"image\/jpeg"}],"author":"infopal11","twitter_card":"summary_large_image","twitter_creator":"@BNReport","twitter_site":"@BNReport","twitter_misc":{"Written by":"infopal11","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.bnreport.com\/en\/jpmorgan-shuts-almost-25-of-first-republic-branches\/#article","isPartOf":{"@id":"https:\/\/www.bnreport.com\/en\/jpmorgan-shuts-almost-25-of-first-republic-branches\/"},"author":{"name":"infopal11","@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/person\/19d1c5a2dd7f60584a09de4a7805d68f"},"headline":"JPMorgan Shuts Almost 25% of First Republic Branches","datePublished":"2023-06-01T17:38:53+00:00","dateModified":"2023-06-01T17:40:39+00:00","mainEntityOfPage":{"@id":"https:\/\/www.bnreport.com\/en\/jpmorgan-shuts-almost-25-of-first-republic-branches\/"},"wordCount":216,"publisher":{"@id":"https:\/\/www.bnreport.com\/en\/#organization"},"image":{"@id":"https:\/\/www.bnreport.com\/en\/jpmorgan-shuts-almost-25-of-first-republic-branches\/#primaryimage"},"thumbnailUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2023\/06\/JPMorgan.jpg","keywords":["2008 Financial Crisis","Featured","Financial Crisis","First Republic Branches","JPMorgan","Lender","US Lender"],"articleSection":["Finance","News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.bnreport.com\/en\/jpmorgan-shuts-almost-25-of-first-republic-branches\/","url":"https:\/\/www.bnreport.com\/en\/jpmorgan-shuts-almost-25-of-first-republic-branches\/","name":"JPMorgan Shuts Almost 25% of First Republic Branches - Business News Report","isPartOf":{"@id":"https:\/\/www.bnreport.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.bnreport.com\/en\/jpmorgan-shuts-almost-25-of-first-republic-branches\/#primaryimage"},"image":{"@id":"https:\/\/www.bnreport.com\/en\/jpmorgan-shuts-almost-25-of-first-republic-branches\/#primaryimage"},"thumbnailUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2023\/06\/JPMorgan.jpg","datePublished":"2023-06-01T17:38:53+00:00","dateModified":"2023-06-01T17:40:39+00:00","description":"BNR - JPMorgan Chase & Co. will close 21 First Republic Bank locations before the end of 2023, according to a JPMorgan representative.","breadcrumb":{"@id":"https:\/\/www.bnreport.com\/en\/jpmorgan-shuts-almost-25-of-first-republic-branches\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.bnreport.com\/en\/jpmorgan-shuts-almost-25-of-first-republic-branches\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.bnreport.com\/en\/jpmorgan-shuts-almost-25-of-first-republic-branches\/#primaryimage","url":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2023\/06\/JPMorgan.jpg","contentUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2023\/06\/JPMorgan.jpg","width":1920,"height":1080,"caption":"HONG KONG, CHINA \u2013 NOVEMBER 02 2022: The famous investment bank JP Morgan is located in the office building of Hong Kong's Central Financial District."},{"@type":"BreadcrumbList","@id":"https:\/\/www.bnreport.com\/en\/jpmorgan-shuts-almost-25-of-first-republic-branches\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"\u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0629","item":"https:\/\/www.bnreport.com\/en\/"},{"@type":"ListItem","position":2,"name":"JPMorgan Shuts Almost 25% of First Republic Branches"}]},{"@type":"WebSite","@id":"https:\/\/www.bnreport.com\/en\/#website","url":"https:\/\/www.bnreport.com\/en\/","name":"Business News Report","description":"Latest News on the World of Politics &amp; Business","publisher":{"@id":"https:\/\/www.bnreport.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.bnreport.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.bnreport.com\/en\/#organization","name":"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a","url":"https:\/\/www.bnreport.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2020\/12\/LOGO2.png","contentUrl":"https:\/\/www.bnreport.com\/wp-content\/uploads\/2020\/12\/LOGO2.png","width":200,"height":50,"caption":"\u0628\u0632\u0646\u0633 \u0631\u064a\u0628\u0648\u0631\u062a \u0627\u0644\u0627\u062e\u0628\u0627\u0631\u064a"},"image":{"@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/Business-NewsReport-328225811095934\/","https:\/\/x.com\/BNReport","https:\/\/www.instagram.com\/business.newsreport"]},{"@type":"Person","@id":"https:\/\/www.bnreport.com\/en\/#\/schema\/person\/19d1c5a2dd7f60584a09de4a7805d68f","name":"infopal11","url":"https:\/\/www.bnreport.com\/en\/author\/infopal11\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts\/244488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/comments?post=244488"}],"version-history":[{"count":4,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts\/244488\/revisions"}],"predecessor-version":[{"id":244494,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/posts\/244488\/revisions\/244494"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/media\/244489"}],"wp:attachment":[{"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/media?parent=244488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/categories?post=244488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bnreport.com\/en\/wp-json\/wp\/v2\/tags?post=244488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}