First Republic Bank was closed in just a few weeks, following the Silicon Valley Bank Crisis. Federal Deposit Insurance Corporation has announced that the bank will be shut down by the California Department of Financial Protection and Innovation. FDIC also purchased the assets of JPMorgan. The total assets and deposits of the bank exceed $330 Billion. In order to protect its depositors the FDIC has entered into an agreement with JPMorgan Chase Bank National Association in Columbus, Ohio, whereby it will buy all First Republic Bank deposits and assume substantially all assets. JPMorgan Chase has acquired all assets and deposits of FRB as well as…