US bank First Republic was seized by authorities on Monday ahead of its sale to JPMorgan. Its collapse is the second largest bank failure in the US, after the recent failures of Silicon Valley Bank and Signature Bank, AFP reported.

First Republic BankPhoto: Jakub Porzycki / Zuma Press / Profimedia

It is also the biggest bank failure since the financial crisis of 2007/2008.

Here are the most popular precedents for retail banks, sorted by asset size.

  • HBOS (UK), 17/09/2008 (assets £690 billion or about US$866 billion and €785 billion)
  • Washington Mutual (United States), 25/09/2008 (US$307 billion, EUR 278 billion)
  • First Republic Bank (United States), as of 05/01/2023 (US$229 billion, EUR 208 billion)
  • Silicon Valley Bank (United States), 10/03/2023 ($209 billion, €189 billion)
  • Signature Bank (USA), 03.12.2023 (110 billion dollars, 100 billion euros)
  • SachsenLB (Germany) 08/26/2007 (€67 billion, $74 billion)
  • Bradford & Bingley (UK), 29/09/2008 (£35 billion or about US$44 billion, €40 billion)
  • IndyMac (United States), 07.11.2008 (32 billion dollars, 29 billion euros)

All these institutions were retail banks available to all individuals.

In addition, the financial crisis was marked by the collapse of several corporate and investment banks, including Lehman Brothers, which declared bankruptcy on September 15, 2008.

It had assets worth 639 billion dollars (600 billion euros).