NEW YORK—JPMorgan Chase & Co.’s net interest income would rise by $3 billion this year due to its purchase of failed First Republic Bank, according to a presentation published ahead of its investor day on Monday.
The largest U.S. lender agreed to take into its books $173 billion of the failed bank’s loans, $30 billion of securities and $92 billion of deposits after First Republic was shuttered by authorities earlier this month.
The Wall Street giant is in the process of integrating First Republic, which will likely take about 12 months.
JPMorgan said it remains optimistic about the purchase as it emerged as one of the biggest beneficiaries of the recent banking crisis due to an influx of deposits from customers who sought safety in larger institutions….