J.P.Morgan Mergers and Acquisitions Presentation Deck
Transaction overview
KEY TRANSACTION DETAILS¹
Transaction
overview
Balance
sheet
restructuring
Integration
• JPMorgan Chase acquired substantial majority of assets and assumed certain
liabilities of First Republic Bank from the FDIC
. $173B of loans and $30B of securities
• Approximately $92B of deposits and $28B of FHLB advances
• JPMorgan Chase did not assume First Republic Bank's corporate debt or
preferred stock
• JPMorgan Chase will make a payment of $10.6B to the FDIC
FDIC will provide loss share agreements with respect to most acquired loans
• Single family residential mortgages: 80% loss coverage for seven years
• Commercial loans, including CRE: 80% loss coverage for five years
• JPMorgan Chase will repay $25B of deposits from large U.S. banks and
eliminate a $5B deposit from JPMorgan Chase on consolidation
• FDIC will provide a new $50B five-year fixed-rate term financing
• All regulatory approvals received and the transaction has closed
• First Republic branches and offices will open as normal
• Committed to treating employees with respect, care and transparency
BALANCE SHEET($B)¹
Assets
Cash
Securities³
Total cash and securities
Loans
Intangibles
Other assets
Total assets
Liabilities
Deposits
FHLB advances
Term financing
Other liabilities
Total liabilities
¹ Estimated as of April 28, 2023 based on data provided by the FDIC
2 Includes estimated fair value marks and elimination of $5B deposit from JPMorgan Chase. Estimates are subject to refinement, including during purchase accounting measurement period
3 Securities balances reflected at fair value in pre- and post-closing balance sheet
4 Reflects core deposit intangible
JPMORGAN CHASE & CO.
Pre-
closing
$29.6
$29.6
$172.9
5.0
$207.5
$92.4
28.1
1.4
$122.0
Post-
closing²
$29.6
$29.6
$150.3
1.1
4.8
$185.8
$87.4
28.1
50.0
2.3
$167.8
2View entire presentation