$First Republic Bank(FRC)$ Wha

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4 rings
2023-05-02

$First Republic Bank(FRC)$ What is the 10.6billions given by JP Morgan to FDIC for the purchase of FRC? Does it meant FRc sold for 10.6b? Then this 10.6b will be given back to FRc creditors and shareholders?

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The Prophet
·2023-05-02
In the news, they said JPMorgan acquired the bank after being seized by FDIC, not before. They also mentioned first republic shareholders now need to go to the FDIC and file a claim.

Priority of claims with FDIC:
1) Depositors
2) General Unsecured Creditors
3) Subordinated Debt
4) Stockholders

No idea how much we can get after they settled the top 3 on the list.
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mada21
·2023-05-02
most likely not.im still holding 1k shares [Facepalm]
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- The Prophet:
  How about them?
  2023-05-02
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mada21
·2023-05-02
bro they sold them
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