SAN FRANCISCO, CALIFORNIA - MAY 01: A passerby stops to read a posted announcement from the FDIC about the seizure of First Republic Bank and sale to JPMorgan Chase on May 01, 2023 in San Francisco, California. Federal Regulators seized troubled lender First Republic Bank on Monday and sold all of its deposits and most of its assets to JPMorgan Chase. First Republic becomes the second largest bank in U.S. history to fail since Washington Mutual failed in 2008. (Photo by Justin Sullivan/Getty Images)Photo: Getty Images