First Republic Gets $30 Billion of Fresh Deposits in Bank Rescue

The biggest US banks pledged $30 billion of fresh cash for First Republic Bank to stem the turmoil that has sent depositors fleeing from regional banks and shaken the country’s financial system.

JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. will contribute $5 billion of uninsured deposits each, while Goldman Sachs Group Inc. and Morgan Stanley will kick in $2.5 billion apiece, according to a statement Thursday. Other banks will deposit smaller amounts as part of a plan devised along with US regulators.

“This action by America’s largest banks reflects their ...