[2] On May 1, 2023, as part of the 2023 United States banking crisis, the FDIC announced that First Republic had been closed and sold to JPMorgan Chase.

[3][4] First Republic was founded in February 1985 by Jim Herbert, previously the founder and CEO of San Francisco Bancorp, which he sold to Atlantic Financial.

[7] In 2004, it acquired the Private Client Asset Management division of Bay Isle Financial from Janus Capital Group.

[12] Thomas J. Barrack, Jr., the head of Colony, had been a board member prior to the Merrill Lynch deal and General Atlantic had been an early investor in the firm putting up about $5 million in 1987.

[17] In December 2016, led by then chief investment officer Hafize Gaye Erkan,[18] the bank acquired Gradifi, a then 2-year-old startup that works with companies to help employees pay off student loan debt that counted PricewaterhouseCoopers, Natixis Global Asset Management, and Penguin Random House as customers.

[19][20] In March 2018, the bank invested in CommonBond, a student loan financier,[21] and in May of the same years, the company leased more office space at Rockefeller Center in New York City.

[31][32] The significance of those outflows was explained by the number of high-net-worth clients at the bank, whose assets exceeding $250,000 would not have been protected by the Federal Deposit Insurance Corporation (FDIC).

[3][4][42] Note: The financial data for the total revenue, net income, assets, and dividends per common share is sourced from the company's annual reports, earnings releases, and SEC Form 10-Ks from 2009 to 2022.