Live from NPR News in Washington, on Corva Coleman, global bank JP Morgan Chase says it's

taking over the deposits of troubled first republic bank, which is collapsed.

In a statement, JP Morgan Chase says it is also assumed most of the failed bank's assets.

And PR's David Gurra says that's because the bigger bank acquired most of first republic

and the federal deposit insurance corporation did not have to step in, like it did for two

other failed banks earlier this year.

Unlike what happened with Silicon Valley Bank and signature bank, this time around the

FDIC did not use its emergency powers to do this.

And JP Morgan CEO Jamie Dimon said in a statement, the bank made its bid in a way that will

minimize costs to the FDIC's deposit insurance fund.

And Laylet says that cost will be about $13 billion.

NPR's David Gurra reporting, this is the third time this year the US government has

moved to take control or support a US bank.

Republic Bank is the largest of those three to fail.

Authorities in Texas are continuing to search for a man who they say shot and killed five

people in a home in the town of Cleveland, Texas early Saturday morning.

So far, police have not been able to find the suspect.

NPR's Joe Hernandez reports they're now offering $80,000 for any tips on his whereabouts.

Francisco Urapesa allegedly shot and killed five of his neighbors, including an eight year

old boy after an argument about Urapesa firing his gun late at night.

Police say he fled the scene after the shooting and is still at large.

The attack took place in Cleveland, Texas, roughly 45 miles northeast of Houston.

...