JPMorgan said it plans to close 21 around 25 percent of First Republic's branch location by the end of the year. The financial giant purchased the regional bank after it effectively collapsed amid an ongoing crisis in the banking sector.   

<div class="block">JPMorgan said it plans to close 21 around 25 percent of First Republic&#39;s branch location by the end of the year. The financial giant purchased the regional bank after it effectively collapsed amid an ongoing crisis in the banking sector. </div>
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Wake Up With Cheddar

JPMorgan Is Set to Close 25 Percent of First Republic Locations

Stories of the day. Jp Morgan set to close about 25% of the branches they acquired from First Republic Bank by the end of this year. A spokesperson for Jp Morgan confirming that news yesterday CNN reported about 100 bank employees will be offered a six month transition agreement and then would be eligible to apply for other open rules. The bank said the decision to close those branches was based on which had low transaction volumes and close proximity to other First Republic offices. The specific locations to close have not been disclosed. But last month, Jp Morgan agreed to buy most of those failed First Republic assets after it was seized by the government.