- Regulators work into the night to resolve First Republic Bank crisis after banks submit final bids.
- JPMorgan, PNC, and Citizens Financial Group among those asked to submit offers.
- Bidding process could result in a tidier sale than previous bank failures.
- JPMorgan's bid would require an exception to US regulations on bank size.
- FDIC has yet to reach a decision on putting First Republic into receivership.
First Republic Talks Extend Into Night After Banks Place Bids
US regulators were working into the night to resolve the First Republic Bank crisis late Sunday after a midday deadline passed for submitting final bids to take over the struggling lender.
Hannah Levitt
