JPMorgan Stock Up 5% After Buying First Republic From FDIC

JPMorgan now holds the distinction of having acquired the first and second largest failed banks in U.S. history from the Federal Deposit Insurance Corporation.

The FDIC took over both banks before JPMorgan acquired them. It seized the largest — $309 billion (assets) subprime mortgage lender Washington Mutual (WaMu) — in September 2008 before JPMorgan bought it for $1.9 billion, according to the Washington Post.