Several large banks, including JPMorgan Chase & Co. and PNC Financial Services Group Inc., are reportedly interested to bid for purchasing First Republic Bank. According to reports, US banking regulator Federal Deposit Insurance Corp.

JPMorgan Chase, PNC bid for distressed First Republic as part of FDIC takeover

San Francisco-headquartered First Republic Bank is slashing its workforce by up to 25 per cent, reflecting wider after-effects of March's Silicon Valley Bank crisis in the United States.

First Republic Bank to cut up to 25% workforce as deposits tumble

First Republic Bank's (FRC.N) efforts to secure a capital infusion continued without success on Tuesday, as the troubled regional lender started to plan for the possibility it may need to downsize or get a government backstop.

First Republic seeks new ways to escape losses