Regulator Mengambil Alih First Republic dan Mengonfirmasi Pengambilalihan oleh JPMorgan

Raksasa perbankan AS JPMorgan siap mengakuisisi First Republic setelah memenangkan tawaran untuk secara praktis membeli bank yang terluka dan mengambil alih kontrol semua asetnya. Departemen Perlindungan dan Inovasi Keuangan California mengumumkan melalui pemberitahuan pada 1 Mei di situs webnya bahwa mereka telah menutup bank tersebut, dengan simpanan yang diambil alih oleh institusi perbankan multinasional.

“Bank First Republic ditutup hari ini oleh Departemen Perlindungan dan Inovasi Keuangan California. Untuk melindungi deposan, Federal Deposit Insurance Corporation (FDIC) sedang menandatangani perjanjian pembelian dan pengambilalihan dengan JPMorgan Chase Bank,” demikian isi siaran pers.

The early Monday news comes after discussions to keep the bank afloat throughout last week failed to bear any fruits leading to a race between several banking groups seeking to command the ailing Californian bank.The federal regulator opened up a bidding window going into the weekend for interested groups to come forward with the deadline elapsing on Sunday.

Ketentuan Perjanjian Pembelian dan Pengambilalihan

JPMorgan’s winning bid encompassed wholly acquisition of First Republic Bank’s (FRCB ) deposits with all of FRC’s 84 offices in eight states set to resume operations under the former’s name. Others that reportedly submitted bids in the government-run sale include Financial Services Group and Citizens Financial (CFG ) Group. Worth noting, the takeover is not expected to breed any interferences to banking services as the agreement involves transfer of customers (and their records) who will henceforth become new depositors of JPMorgan Chase Bank.

“Nasabah First Republic Bank harus terus menggunakan cabang mereka yang ada sampai mereka menerima pemberitahuan dari JPMorgan Chase Bank bahwa perubahan sistem telah selesai untuk memungkinkan cabang JPMorgan lainnya memproses akun mereka juga.”

Last week, First Republic’s share bled for three consecutive days to $4.92 on Wednesday before sliding lower to $3.20 as of market close on Friday.The steep decline was fueled by reports of customers withdrawing $100 billion of deposits in March from the San Francisco-based lender.

Deposito First Republic Turun $72 Miliar Sepanjang Kuartal 1

More concerns arose among investors and observers alike following the release of the Q1 earnings results on April 24 which painted a discouraging picture. Deposits totaled $104.5 billion in the first quarter against expectations of $136 billion and down from $176 billion in the last quarter of 2022. In responses to this slump, the lender said it plans to trim its staff with a quarter of them set to be affected. The regulators handling the acquisition estimated the value of First Republic’s asset to $229.1 billion as of April 13, against $103.9 billion (less than half) in deposits.

“FDIC sebagai penerima dan JPMorgan Chase akan berbagi kerugian dan potensi pemulihan pada pinjaman yang tercakup dalam perjanjian berbagi kerugian […] Transaksi berbagi kerugian diproyeksikan memaksimalkan pemulihan aset dengan mempertahankannya di sektor swasta. Transaksi ini juga diharapkan meminimalkan gangguan bagi nasabah pinjaman,” demikian pernyataan pada hari Senin.

Notably, the haste by regulators to intervene and quickly deal with the situation is likely an attempt to prevent any weakness in the country’s banking industry following similar incidents of turmoil last month. The federal agency expects the cost to the Deposit Insurance Fund to come to $13 billion, but the final figure will not be known until the receivership is concluded.

Yang Terburuk Mungkin Belum Selesai di Dunia Perbankan

First Republic received a bailout in March, after JPMorgan lobbied 11 banks including Bank of America (BAC ), Citigroup, and Wells Fargo to extend a $30 billion financial hand. The California-based lender now joins a forming list of crypto-linked banks that have gone into receivership by the Federal Deposit Insurance Corporation. Signature and Silicon Valley Banks (SVB) both collapsed earlier in mid-March less than three days apart. The latter was first to be closed down on March 10 and was acquired by First–Citizens Bank & Trust company. Two days later on March 12, New York-based Signature bank tumbled as well, and was acquired by Flagstar, a division of the New York Community Bancorp (CMTV ).