First Republic Bank seized, sold in fire sale to JPMorgan

People walk past the headquarters of First Republic Bank Monday in San Francisco. (AP Photo/Haven Daley)

NEW YORK — Regulators seized troubled First Republic Bank early Monday, making it the second-largest bank failure in U.S. history, and promptly sold all of its deposits and most of its assets to JPMorgan Chase in a bid to end the turmoil that has raised questions about the health of the U.S. banking system.