JPMorgan's First Republic acquisition signals end of crisis, says Dimon.

JPMorgan Chase has acquired troubled First Republic Bank for $10.6 billion, stabilizing the banking system, according to CEO Jamie Dimon. The FDIC invited JPMorgan and other lenders to bid in a competitive process. First Republic had struggled since the collapse of Silicon Valley Bank and Signature Bank in early March, and was widely seen as the bank most likely to collapse next. The acquisition has not changed the odds of a recession, but has ended "this part" of the U.S. banking crisis, Dimon said.