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The drama surrounding First Republic Bank has ended. The bank was SEIZED by federal regulators this morning (05-01-2023) after it’s stock lost 97% of its value in trading since last year. JP Morgan/CHASE has purchased the assets of the bank and all its branches will re-open as CHASE. Depositor money is safe up to $250,000.
Regulators took possession of First Republic>on Monday, resulting in the third failure of an American bank since March, after a last-ditch effort to persuade rival lenders to keep the ailing bank afloat failed.
JPMorgan Chase, already the largest U.S. bank by several measures, emerged as winner of the weekend auction for First Republic. It will get all of the ailing bank’s deposits and a “substantial majority of assets,” the New York-based bank said.
JPMorgan is getting about $92 billion in deposits in the deal, which includes the $30 billion that it and other large banks put into First Republic last month. The bank is taking on $173 billion in loans and $30 billion in securities as well.
The Federal Deposit Insurance Corporation agreed to share losses on mortgages and commercial loans that JPMorgan assumed in the transaction, and also provided it with a $50 billion credit line.
Since the sudden collapse of Silicon Valley Bank in March, attention has focused on First Republic as the weakest link in the U.S. banking system. Like SVB, which catered to the tech startup community, First Republic was also a California-based specialty lender of sorts. It focused on serving rich coastal Americans, enticing them with low-rate mortgages in exchange for leaving cash at the bank.
But that model unraveled in the wake of the SVB collapse, as First Republic clients withdrew more than $100 billion in deposits, the bank revealed in its earnings report April 24. Institutions with a high proportion of uninsured deposits like SVB and First Republic found themselves vulnerable because clients feared losing savings in a bank run.
Shares of First Republic had lost 97% as of Friday’s close.
Comments
-1# 01JUN2023: Perfect Storm — Dolph 2023-05-02 11:15
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Is in perfect harmony with my High Watch Date for the rapture of the Church, 28MAY2023 which is the Feast of Pentecost, sometimes referred to as The Feast of the Harvest of the First Fruits.
Jesus, the Lamb of God, was crucified on Passover. He was the Feast of the Unleavened Bread (leaven=sin)and was the Feast of the First Fruit, fulfilling the first three of the seven “appointed times” on the Hebrew calendar.
The rapture of the Church could be the next feast to be fulfilled on Pentecost, “The Feast of the Harvest of First Fruits”. Since Jesus was the First Fruits of those to rise from the dead, the balance of harvest would be the Church who also will be raised from the dead and taken to Heaven as Jesus was.
Are you ready for the rapture?
(Note: This isn’t a prophesy but simply a thought that came to mind a few weeks ago as I was rising from bed)
# █▓▒░ Who Authored The Pre-Trib Heresy And The Cult That Formed Around It ? ░▒▓█ — Palehorse 2023-05-02 13:28
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“IMMEDIATELY AFTER THE TRIBULATION OF THOSE DAYS shall
the sun be darkened, and the moon shall not give her light, and the
stars shall fall from heaven, and the powers of the heavens shall be
shaken… 30… and they shall see the Son of man coming in the clouds
of heaven with power and great glory… 31 And he shall send his
angels with a great sound of a trumpet, and they shall gather together
His ELECT from the four winds, from one end of heaven to the other.”
MATT 24:29-31
AFTER the tribulation of those days…” With no make believe pre-trib rapture.
WHY will these cult members never tell you the following?
Pre-Trib Rapture can not be found anywhere in the Holy Scriptures.
It represents twisted interpretations of a few cherry picked verses
removed from their original context.
The pre-trib concept was never taught throughout all church history.
No. This complex lie, and damnable heresy, was set forth in the 1800’s
by a man named John Nelson Darby, the father of this cult.
Darby excelled at gathering assorted heresies and false doctrines
and assembling them into a coherent systematic theology that could
be taught to others.
The Darby family owned, and lived in, a castle in Leap Ireland built
around 1250 and it was claimed to be the most haunted castle in
Ireland. Seances were held in the Darby castle, and an elemental
demon known as “It” often made appearances. Also the described
“Red Lady Ghost” walked the castle halls carrying a dagger. (A priest
was murdered there while performing mass) John Darby also had
connections with Freemasonry and British Intelligence of that day.
Darby, and family, were deeply involved in the occult.
After, Darby’s death in 1882, his notes were acquired by Cyrus
Scofield . Scofield, a very shady character, created his own Bible for
the sole purpose of financial gain where he inserted Darby’s work
next to the verses in the Bible.
The Scofield Reference Bible was the syringe that Satan used to
inject toxic lies into the Body if Christ in the Untied States of America.
Dolph is a heretic spreading these lies and deceiving other people.
The scriptures clearly state that there is only 1 harvest.
Rose Rambles... 