As part of its deal, all 84 First Republic branches in eight states – including  seven in Santa Clara County, 15 in San Francisco, six in San Mateo County, eight in the East Bay and 17 in Southern California – will reopen this morning as JPMorgan branches.

A Sunday night deadline loomed as JPMorgan and PNC were said to be interested in acquiring the troubled lender after it is seized by the Federal Deposit Insurance Corporation.

The March 27 purchase by First Citizens Bancshares of all assets and liabilities of the failed Silicon Valley Bank did not include a community reinvestment pledge signed by SVB in 2021 as part of an acquisiton of Boston Private Bank.

For most banks, higher interest rates are good news because they can charge more for loans. But for SVB, they hurt.

San Jose’s elected leaders are debating whether to endorse a state bill that would give Californians an alternative to mega-banks.