The collapse of Silicon Valley Bank and Signature Bank forced regulators to seize First Republic Bank over the weekend, giving control to JPMorgan Chase to prevent further banking turmoil in the United States. First Republic Bank is unable to survive due to the high amount of uninsured deposits and exposure to low interest rate loans. Although it had an enviable banking franchise before the collapse of Silicon Valley Bank, the majority of First Republic Bank deposits were found to be uninsured. If it failed, depositors would not get all their money back. Fear was crystalized in their recent quarterly results as depositors withdrew more than $100 billion in April. JPMorgan Chase paid the majority of the deposits and assets, allowing First Republic's 84 branches in eight states to reopen under Chase Bank ownership. First Republic Bank’s clients, mostly the rich and powerful, rarely defaulted on their loans. They were the source of the bank’s profits by making low-cost loans to the wealthy, including Meta Platforms CEO Mark Zuckerberg.