3 North Bay First Republic branches closing on Memorial Day weekend

Come Memorial Day weekend, First Republic Bank customers will bid farewell to three of the San Francisco-based financial institution’s North Bay branches since JPMorgan Chase took over during the bank crisis that resulted in it going into receivership last May.

Of 25 First Republic branches situated in the San Francisco Bay Area, 15 will close May 24. They include branches in downtown Santa Rosa on Third Street; St. Helena on Adams Street; and San Rafael on Fourth Street. The Napa branch on Trancas Street was spared from closure.

Of the remaining 10, five will be “rebranded” as JPMorgan branches; four will reopen as Chase bank locations and one is due for rebranding as “Chase/JPMorgan.”

JP Morgan Chase operates 4,800 locations nationwide and renovations costing more than $1 billion are expected for 1,700 branches. With its expansion, the bank plans to add 500 new branches and 3,500 newly-hired employees by 2027 to service more customers.

“Frankly, we’re opening more branches and making capital improvements. The renovations are part of the face-to-face conversations we have with our customers,” JPMorgan Chase spokesman Peter Kelley said.

Customer accounts will transfer to JP Morgan Chase on Memorial Day weekend.

In Santa Rosa there is a Chase location on Fourth Street. Other locations in town include Mendocino Avenue; Montgomery Village, Coddington and Stony Point Road.

In St. Helena, Chase offers an ATM on Railroad Avenue.

For Marin County’s downtown San Rafael customers, JPMorgan has established a branch on Fourth Street, close to where First Republic has operated.

First Republic was the second largest bank to fail in U.S. history. The largest was Silicon Valley Bank. By mid-March, JPMorgan joined a bank collaborative to bail out First Republic with $30 billion. The measure failed to stave off the collapse .

As of March 31, 2023, First Republic managed total assets of $232.9 billion and $104.5 billion in deposits, according to the Federal Deposit Insurance Corporation (FDIC). First Republic and Silicon Valley Bank experienced a massive overrun on deposits.

Susan Wood covers law, cannabis, production, transportation, agriculture as well as banking and finance. She can be reached at 530-545-8662 or susan.wood@busjrnl.com