stock prices at a group of major us regional banks have plummeted monday morning just hours after first republic bank’s sudden collapse and takeover by jpmorgan chase as fears persist that a series of catastrophic regional bank failures could spark systemwide contagion stocks of citizen financial group the parent company of citizens bank dropped by more than 6 monday morning to 2905 hours after california regulators shut down first republic bank after multiple efforts to rescue the san franciscobased regional bank fell flat pittsburghbased pnc bank’s stocks have also fallen nearly 6 to 12282 following first republic’s failure—the second largest in us history and the third bank failure in just two months following silicon valley bank and signature bank minneapolisbased us bancorp’s stocks have also fallen by more than 25 to 3341 while truist financial corp stocks have dropped by more than 25 to 3172 and umb financial corp stocks have decreased by more than 4 to 6096 jpmorgan’s stocks had their secondbest day so far this year jumping nearly 3 to 14189 monday morning after the country’s biggest bank assumed all of first republic’s deposits and most of its assets the fdic announced meaning all of first republic’s customers will be protected including those with deposits over the fdic’s 250000 threshold customers with deposits at first republic will now be able to access their money through jpmorgan 92 billion that’s how much jpmorgan is assuming in deposits at first republic including 30 billion in large deposits jpmorgan said in a statement monday morning while 84 first republic branches in eight states will reopen later on monday as jpmorgan chase bank branches first republic’s failure comes nearly two months after silicon valley bank—another san francisco bay area regional bank—collapsed in what had been the biggest bank failure in the us since the great recession after svb announced it lost roughly 18 billion off the sale of 21 billion in securities as it desperately attempted to raise money and stave off failure analysts attribute svb’s collapse to both poor decisions by executives and multiple rounds of interestrate hikes by the federal reserve to combat rising inflation sinking the value of svb’s investments just days later new yorkbased signature bank was suddenly shuttered by state regulators after customers quickly withdrew their deposits in a massive bank run and as economists feared other regional banks could bear the brunt of a systemwide problem called contagion first republic taken over by jp morgan after regulators shut it down forbes jpmorgan stock set for secondbest day this year after first republic takeover forbes first republic bank reportedly on verge of collapse forbes