George Michael may not need “One More Try” to get into the Rock & Roll Hall of Fame — he might be going in this year.
Voting for this year’s “Fan Ballot” has closed and Billboard reports that the former Wham! singer-turned-solo star came out on top by a huge margin. He got a little more than 1.04 million votes. In second place is fellow ’80s icon Cyndi Lauper, who received a little more than 928,000 votes.
This year’s Rock & Roll Hall of Fame inductees will be announced on Wednesday. The “Fan Ballot” isn’t a guarantee of induction, but as Billboard notes, all but one of the previous five fan vote winners ended up getting in: The only one who didn’t was Dave Matthews Band in 2020.
The other top vote-getters were Warren Zevon, Iron Maiden and Soundgarden. The rest of the nominees who’ll find out Wednesday if they’ve made the cut include Missy Elliott, Kate Bush, The White Stripes, The Spinners, Rage Against the Machine, Sheryl Crow, Willie Nelson and Joy Division/New Order.
On Friday, Barry Manilow announced that his long-in-the-works musical Harmony is finally coming to Broadway. But he tells ABC Audio he wouldn’t want to turn his life into a musical, like fellow stars Neil Diamond and Carole King have done.
“I’m not interested in being a part of something like that. And I’ll tell you why: I don’t have the drama,” he notes. “My life is pretty boring…I haven’t got enough drama in it to keep the curtain up for two acts!”
“Yeah, I got the music, but I haven’t got the story that other other guys have…So I wouldn’t be interested in doing it myself,” he adds. “But if somebody else is? Sure!”
Harmony, which opens in November at the Barrymore Theater, has taken more than 20 years to hit Broadway. It’s the true story of the Comedian Harmonists, an internationally famous German vocal group whose career was essentially ended by the Nazis.
“It takes a long time to get a Broadway musical up. We all know that,” says Barry. “But..we would always hit some wall that would stop it from coming in to New York. But this time…we’re coming in!”
It’s just one thing Barry has going on at the moment: He’ll play five shows at Radio City Music Hall later this month and on Monday, he’s being honored by the New York Pops orchestra, which will perform his music with guest singers like Dionne Warwick and Melissa Manchester.
Barry says he’ll be “sitting there with my Kleenex, ready to applaud” during the tribute, and admits he’s most excited to see them do “Copacabana,” because of the guest vocalist.
“I asked Charo,” he says. “I mean, can you think of a better person to sing ‘Copacabana’ than Charo? And she said yes!”
While it is known that Indiana Jones and the Dial of Destiny will be the last time Harrison Ford portrays the whip-cracking archeologist, the actor says the June release will also be Indy’s last big-screen adventure.
“This is the final film in the series…” he tells Total Film in a cover article, adding, “I anticipate that it will be the last time that he appears in a film.”
There have also been rumors the character may be spun off into a small-screen project, but on this, Ford insists to Total Film, he will “not be involved in that, if it does come to fruition.”
Ford, 80, calls making the “ambitious” fifth film a “joyous moment” for him, noting, “I’ve been able to deliver amazing films developed by Steven [Spielberg] and George [Lucas] over a 40-year period, and to end it not with a whimper, but a bang, has been my greatest ambition for this excursion.”
There has been speculation for years that someone else would someday don the famous fedora. In the close of the fourth film, Indiana Jones and the Kingdom of the Crystal Skull, the hat literally lands at the feet of Shia LaBeouf‘s character, Indy’s kid Mutt. However, Jones grabs it back before Mutt can try it on.
After that film fizzled, there were rumors Chris Pratt was being eyed to succeed Ford — and while he didn’t deny he was approached, Pratt insisted on the Happy Sad Confused podcast, “I once saw a quote from Harrison Ford…it was enough to scare me — that was like, ‘When I die, Indiana Jones dies.’ And I’m like, am I gonna get haunted by the ghost of Harrison Ford one day…?”
Indiana Jones and the Dial of Destiny hits theaters June 30 from Lucasfilm, which is owned by ABC News’ parent company Disney.
As suspected, Aerosmith is saying goodbye to the road. The band just announced dates for their “Peace Out” farewell tour, featuring special guests The Black Crowes.
“It’s not goodbye it’s PEACE OUT!,” the band shared in a statement. “Get ready and walk this way, you’re going to get the best show of our lives.”
The tour is set to kick off September 2 in Philadelphia, hitting such cities as Pittsburgh, Detroit, Washington, DC, Atlanta, Los Angeles, Nashville and more before wrapping, January 26, 2024 in Montreal, Canada. The trek also includes a New Year’s Eve show in the band’s hometown of Boston, Massachusetts.
One person who won’t be joining the band for their farewell run is drummer Joey Kramer. “While Joey Kramer remains a beloved founding member of Aerosmith, he has regrettably made the decision to sit out the currently scheduled touring dates to focus his full attention on his family and health,” the band explained. “Joey’s unmistakable and legendary presence behind the drum kit will be sorely missed.”
Ahead of the official announcement the band teased the news with a trailer that featured cameos by such stars as Ringo Starr, Slash, Kelly Clarkson, Eminem, Dolly Parton and Bill Burr, with Aerosmith frontman Steven Tyler ending the clip by saying “and if you think we’re joking, dream on,” a reference to their classic song.
Tickets for the Peace Out tour go on sale Friday, May 5 at 10 a.m. local time. A complete list of dates can be found at Aerosmith.com.
Months ahead of its fall season 3 premiere, The Morning Show has snagged a fourth season pickup from Apple TV+, according to Deadline.
Stars Jennifer Aniston and Reese Witherspoon are reportedly locked in through the end of season 3 and are expected to sign on for the fourth season as soon as they work out their busy schedules. There’s also an option for a fifth season, per the outlet.
Julianna Marguiles will also be back for season 3, reprising her role as news anchor Laura Peterson, along with series newcomer Jon Hamm, who’ll play a media mogul who gives Billy Crudup’s Cory Ellison a “run for his money,” according to Apple TV+. 42‘s Nicole Beharie also joins the cast as a new TMS anchor, and Tig Notaro, Stephen Fry and Natalie Morales will also appear in recurring roles.
The series also stars Mark Duplass, Nestor Carbonell, Karen Pittman, Bel Powley, Desean Terry, Janina Gavankar, Tom Irwin and Marcia Gay Harden.
The show’s second season, which ran in fall 2021, was set a year earlier and closed with the COVID-19 pandemic ravaging through UBA.
Steve Martin used the Saturday, April 29 stop on his You Won’t Believe What They Look Like Today! tour with Only Murders in the Building co-star Martin Short at the Walt Disney Theater at Dr. Phillips Center for the Performing Arts in Orlando, Florida to reveal the Hulu comedy’s season 3 premiere date, according to Variety. “Catch the new season August 8,” Martin shared, after which Short joked, “Our show is like Steve trying to pee — it streams for 33 minutes.” Only Murders in the Building follows three true crime-obsessed strangers — played by Short, Martin, and Selena Gomez — who come together when a crime occurs in their apartment building. Meryl Streep and Paul Rudd also join the show’s third season cast…
Actress Michaela Jaé Rodriguez is reuniting with Pose co-creator Ryan Murphy for the 12th season of FX’s American Horror Story, joining season 9 vet Emma Roberts and franchise newcomers Cara Delevingne and Kim Kardashian, according to Entertainment Weekly. The latest season — based on Danielle Valentine’s thriller novel Delicate Condition, due out in August — is described as a feminist update of Rosemary’s Baby. It reportedly follows “a woman who becomes convinced that a sinister figure is going to great lengths to make sure her pregnancy never happens,” per FX…
Aidy Bryant has been tapped to star in Lonely Hearts Club, a dramedy series based on an episode of the Crime Junkies podcast, in development at Peacock, according to Variety. The project, executive produced by Beau Is Afraid filmmaker Ari Aster, is described as “a darkly comedic true crime thriller about a lonely woman who falls in love with a dim but handsome con man. Together they form an unlikely ‘Loser-Bonnie-and-Clyde’-style partnership that ends in lies, murder and the electric chair”…
(NEW YORK) — Before cross examination of E. Jean Carroll resumes on Monday, Donald Trump’s lawyers requested a mistrial in a letter filed at dawn.
Defense attorney Joe Tacopina said Judge Lewis Kaplan has mischaracterized elements of the case and improperly shut down certain lines of questioning during cross examination.
Carroll claims the former president attacked her in a Bergdorf Goodman dressing room in the 1990s. Carroll brought the lawsuit in November, saying Trump defamed her in a 2022 Truth Social post by calling her allegations “a hoax and a lie.”
Tacopina said he should have been allowed to explore why Carroll did not pursue security camera footage from Bergdorf Goodman and why Carroll did not go to the police following the alleged rape by Trump.
“[P]roof that Plaintiff never attempted to determine if any such footage of the parties existed constitutes circumstantial evidence that her accusation is false,” the letter said.
Tacopina also questioned the judge’s admonishment of a social media post by Eric Trump that revealed LinkedIn founder Reid Hoffman is funding Carroll’s case.
“Eric Trump’s tweet was either factually accurate or protected opinion,” Tacopina wrote.
The judge had appeared to include the tweet when he likened social media posts by former President Trump to jury or witness tampering. Tacopina called it evidence of “unfair treatment.”
Trump has denied all allegations that he raped Carroll or defamed her.
(NEW YORK) — Rachel Simner, the mom of a 13-year-old child in Illinois, said she took her child to a local emergency room last September at the urging of her child’s school officials, who had done a suicide risk assessment.
Simner, a mom of two, told Good Morning America that when her child was discharged from the emergency room several hours later, her only guidance was a list of pediatric mental health providers that were said to specialize in autism, a condition with which her child has been diagnosed.
“It turns out a lot of them weren’t pediatric or they didn’t deal with autism or they had waitlists, so it took a while to find anybody and this is a kid who was suicidal, so it was urgent,” Simner said. “Four or five days later I went to the mental health hospital itself instead of the ER to try to get them admitted directly, and we were turned away again.”
Simner said her child, who also uses they/them pronouns, has for the past several months relied on a patchwork of providers and an at-home tutor provided by the school district while she and her husband continue to search for a more permanent treatment plan.
“We get bad information. The providers aren’t adequately trained. There’s such a shortage of space and beds for inpatient treatment,” Simner said. “In the meantime, my child is falling through the cracks and not getting the help that they need.”
Several states away, in the Washington, D.C., area, Ann, a mom of two, estimates that she and her husband have spent hundreds of thousands of dollars to get mental health care for their oldest child, a high school student.
“We’ve been paying basically out-of-pocket since she was in third grade for weekly therapy,” Ann, who asked that her last name not be used, told GMA, noting that is even with her family being lucky enough to have health insurance.
Around eighth grade, Ann said her child, who uses they/them pronouns, began to self-harm and experience suicidal thoughts, which led to years of searching for and bouncing between inpatient and outpatient treatment programs.
“At one point I switched to half-time in my job to take care of my child because we were too scared to leave them alone physically,” Ann said, adding of the financial toll, “We’ve spent anything that they had for college, and possibly everything that their sibling had for college and possibly our retirement, just so that they could do all of this so that they could survive enough to decide what they wanted to do after high school.”
In addition to the financial burden, Ann said the logistical burden of finding treatment for their child has fallen squarely on her and her husband.
After one 10-hour stay at a local emergency room following their child’s suicide threat, Ann said they left with little more than a list of mental health care providers to try to call for an appointment.
“Everyone is just trained to say, ‘Call 911,’ and then you get discharged from the hospital and you’re like, what do I do now?” Ann said. “It’s like a state of crisis for a parent to be constantly like, how do I manage that someone will be home 24/7 with my child and still work and still be able to pay our bills and still have another child who is supposed to be able to function like a normal person?”
A mental health crisis of care for kids
Mental health experts say what Simner and Ann described experiencing is part of a larger crisis across the country, where a record number of kids in need of mental health care are crashing up against a lack of access to care.
“I think out of the 100,000 psychologists [in the U.S.], there are around 4,000 adolescent clinicians, and most of those are in urban areas,” Robin Gurwitch, Ph.D. , professor of psychiatry and behavioral sciences at Duke University School of Medicine, told GMA. “You tell a family, ‘Here’s what you need to do,’ but then what? If you’ve got a six-month waiting list, that isn’t helpful for a family in crisis, particularly for a child in crisis.”
The American Academy of Child and Adolescent Psychiatry estimates that when it comes to child and adolescent psychiatrists — medical doctors who are able to prescribe medicine — there are just over 10,000 currently practicing in the U.S., at a ratio of 14 per 100,000 children.
Two years ago, the AACAP joined with the American Academy of Pediatrics and the Children’s Hospital Association — which collectively represent more than 77,000 physicians and over 200 children’s hospitals — in declaring children’s mental health a “national emergency.”
Last year, a report from U.S. Surgeon General Dr. Vivek H. Murthy warned of a growing mental health crisis among young people. The report, issued during the coronavirus pandemic, cited statistics including a 50%-plus-increase in emergency room visits for suspected suicide attempts among girls and a doubling of anxiety and depression symptoms reported across genders.
On Thursday, a new report from the U.S. Centers for Disease Control and Prevention painted an even starker picture: According to the agency, the number of high school female students seriously considering suicide jumped from 24% in 2019 to 30% in 2021.
The percentage of those who made a suicide plan increased from 19.9% to 23.6% in that same time frame. There was also an increase in suicide attempts, from 11% to 13.3%, according to the CDC.
“So many people that I’ve worked with have had to make the choice where they know that their child is imminently suicidal, and they just can’t afford to bring them somewhere to get treatment,” said Mitch Prinstein, Ph.D. , chief science officer for the American Psychological Association, noting that many parents struggle to find treatment at all. “So they come home every day from work, hoping and praying that their child is still alive.”
Prinstein described kids as moving targets who develop so quickly that a delay of any time in mental health treatment can set them on a different life course.
“If a kid has to wait six months until they get an evaluation or they get better, that means they’re missing, potentially, a significant portion of their school year,” Prinstein said. “When they are able to start functioning again, they’re now on a whole new trajectory and where they end up might be miles away from where they would have been had they been able to get minimal disruption where they did not lose a school year and they did not have major conflicts with teachers, parents and peers.”
Prinstein and other experts point to data showing the mental health crises among kids has been a long time coming, and was both exacerbated and highlighted by the pandemic, a time when kids faced everything from loss and isolation to economic uncertainty at home.
A new report by the National Academies of Sciences, Engineering, and Medicine, a policy-focused nonprofit organization, determined that in the absence of a “focused strategy” for help post-pandemic, “a generation of young people will enter adulthood with worse mental health,” particularly those in low-income communities.
“Just because [COVID] is not like it was three years ago, doesn’t mean that it has completely disappeared from the lives of our children,” said Gurwitch. “Those concerns that arose during COVID — those that were often coupled with grief and loss issues, with changes in their family due to housing or food or job insecurity — we couldn’t just turn those off and put them back into the learning environment.”
Gurwitch said a silver lining of the increased focus on mental health care post-pandemic is the expansion of the government-backed 988 Suicide & Crisis Lifeline, which people can call or text 24/7 for help. A federal funding bill passed in January included $506.1 million to support and expand services provided by the lifeline.
Both Gurwitch and Prinstein said the lasting impacts of COVID are piled on top of what is an already stressful time to be a child in America. Kids today, they said, feel the weight of school shootings, natural disasters like hurricanes and tornadoes, economic uncertainty, social justice, climate change and war, on top of social media and academic pressures.
At the same time, according to Prinstein, they are not prepared emotionally to cope, despite a renewed public discourse on mental health that came out of the pandemic.
“We have basically an almost complete lack of any prevention right now,” Prinstein said. “When it comes to physical health, there’s all kinds of prevention that we teach kids about — how to eat well and exercise and avoid unhealthy practices — but there’s just remarkably little prevention that’s built into the way that we raise kids or that we talk about at the family and community level.”
‘We need a mental health moonshot’
Prinstein said if the U.S. wants to make any significant progress towards ending the mental health crisis among kids, there needs to be substantial change.
“We made a big investment in building a whole mental health infrastructure in our country after World War II, for the veterans, but we’ve made no meaningful changes to the mental health infrastructure in this country since that time 70 years ago, and that system already was built for adults, not for kids,” he said. “So we’re just sitting on a whole bunch of solutions that could work if we developed a system that reflected the science.”
He added, “All of that is just going to waste because everyone is making these tiny, incremental, ultimately meaningless changes that don’t address the heart of the issue.”
Just as President Joe Biden last year outlined a new “American Moonshot ” aimed at eradicating cancer, Prinstein said the U.S. needs a “mental health moonshot.”
“We should be thinking about mental health in the exact same way we do physical health. People should be aware of their options, they should know about the scientific approaches to treatment that are likely to work and they should be able to access that treatment,” he said. “We should be building mental health resilience and competencies into every kid, K-12, in every community.”
Prinstein applauded the Biden administration’s $1 billion in funding to increase the number of school-based health professionals, but described that effort and others as “tiny band-aids” being placed on the problem, instead of a necessary “systemic fix.”
“Right now, the government pays billions of dollars every year to make sure as a national priority that we have a sufficient number of physicians with the right specialties in the right parts of the country so that everyone has access. There is no such effort being made for mental health care providers,” he said. “It really is that substantial and that big of a concern that we’re talking about the need for a major, systemic federal commitment, and we haven’t been doing that for decades.”
Last year, when the Biden administration’s funding increase was announced, Education Department Assistant Secretary for Planning, Evaluation, and Policy Development, Roberto Rodríguez, told ABC News there’s never been an effort of this magnitude by the federal government to distribute mental health professionals to schools. The recent spending, according to Rodríguez, also helps President Biden inch closer to his goal of “doubling” school-based mental health practitioners.
“We are making a big bet on supporting, attracting, developing and retaining our school psychologists, social workers, [and] counselors to really work in support of our students,” Rodríguez said.
Anne, a mom from Rockville, Maryland, who asked that her last name not be used, said she wonders what would have happened with her own 16-year-old child if mental health was treated differently in the U.S.
In one instance, the child — whom Anne asked not be named — experienced suicidal ideation, and Anne said they waited several days in a local hospital’s emergency department trying to be admitted to a mental health treatment center.
“Immediately, you are depersonalized, put in a space that has nothing that can be used as a hazard and you sit there, and you sit there, waiting to be assessed,” Anne said of her family’s experience in the ER.
“Ultimately, the psychiatrist, in meeting with my child, she determined that there was a lot of a lot of stuff my kid was having to deal with, and the thought of suicide and the plans for suicide were the only things that my child knew to go to, to cope, because they hadn’t learned coping strategies anywhere.”
Training pediatricians to be first responders for children’s mental health
With schools also facing a stark shortage of mental health professionals — at a ratio of 1,162 to 1 compared to the 500 to 1 ratio recommended by the National Association of School Psychologists — one organization is working to train another population that reaches children daily: pediatricians.
To date, the REACH Institute, a New York-based nonprofit organization, has trained more than 6,000 pediatricians and primary care providers in delivering scientifically proven mental health care, according to Lisa Hunter Romanelli , Ph.D., CEO of REACH and a licensed clinical psychologist.
“Unfortunately, the typical pediatrician, through medical school and their training, they don’t get a lot of training on mental health, but increasingly, because of the children’s mental health crisis, that’s where families are turning,” Hunter Romanelli told GMA. “So REACH’s training program aims to increase the knowledge and comfort of pediatricians so that they are able to to spot early signs of children’s mental health illness and manage and help those kids within the scope of their pediatric practices.”
The scope of REACH’s training, according to Hunter Romanelli, extends from learning to identify mental health struggles in kids to treating them, whether by helping the patient and family learn different skills to alleviate symptoms or, if indicated, prescribing medication.
“We’re not trying to turn [pediatricians] into therapists,” Hunter Romanelli said, adding, “Our training empowers them to do something that they are already being asked to do and gives them more comfort and confidence in being able to help the kids in their practice.”
Hunter Romanelli said REACH, which is funded by donations as well as grants and fees for its training programs, estimates that training one pediatrician can help 250 kids with mental health issues, meaning the need is still great.
“Today, our impact has been that we’ve trained 6,000 pediatricians, which means they are helping 1.5 million kids, which is good, but there’s still a crisis,” Hunter Romanelli said. “We’d love to make sure that every pediatrician has gone through our training program because obviously that would make a dramatic impact on the number of kids to have access to to mental health services.”
What parents can do now
Hunter Romanelli, as well as Prinstein and Gurwitch, stressed that there are steps parents can take to try to protect their child’s mental health.
First, parents should know that they have the right to ask questions of providers about the mental health treatment their child is receiving, according to Prinstein.
“It’s really, really important that folks, when they go to get help, that they’re looking for a licensed professional and also asking, ‘Did you go to an accredited institution,?’ and, ‘What is the kind of therapy that you’re providing? Is there science to demonstrate that therapy works,?'” he said. “Parents have every right to ask.”
Second, parents should be sounding boards for their kids, and be proactive in speaking to them about mental health, including suicide, according to Prinstein.
“Talk with your kids about suicide because there is a big misconception that we’re going to somehow put an idea in our kids’ heads and it’s going to make them more likely to do something risky or bad. That is absolutely incorrect,” he said. “You’re not putting an idea in their head, but what you are doing is communicating when they talk with you about it, they’re going to feel safe and they’re going to feel like they can open up to you.”
Gurwitch echoed Prinstein’s advice, saying simply, “Talk to your kids.”
“Check in with them about how they’re doing when events happen,” she said. “Whether it is another shooting, whether it’s a disaster, whether it’s the impact of climate change, whether it’s the war in Ukraine, check with your kids about how they’re doing and they can know that you’re available to talk to about the tough things.”
Likewise, Gurwitch said parents should feel comfortable talking to their child’s pediatrician and school officials about mental health.
“You know your child better than anybody else, so if you see a change in their behaviors and their functioning and how they’re doing in school or with peers or with you, talk to somebody to see, ‘Should I be concerned?'” she said. “Children don’t come with a manual, so it’s unfair [for parents] to think, ‘I know what to do.'”
If you or someone you know are experiencing suicidal, substance use or other mental health crises please call or text 988. You will reach a trained crisis counselor for free, 24 hours a day, seven days a week. You can also go to 988lifeline.org or dial the current toll free number 800-273-8255 [TALK].
ABC News’ Arthur Jones II and Kelly Livingston contributed to this report.
(TEXARKANA, Texas) — An 18-year-old college baseball player was shot by a stray bullet in the middle of a game while he was standing in the bullpen over the weekend.
The incident occurred at approximately 5:30 p.m. on Saturday afternoon at a baseball game between Texas A&M – Texarkana and the University of Houston – Victoria at George Dobson Field at Spring Lake Park in Texarkana, Texas, when the unnamed player was struck by a stray bullet from some type of altercation in a nearby neighborhood just west of the baseball field, according to a statement from the Texarkana Texas Police Department.
The baseball player was immediately taken to St. Michael hospital nearby where he underwent surgery for the gunshot wound.
“We initially received several calls of shots fired on Lynda Street, which is in a neighborhood just west of Spring Lake Park. Moments later, we received a 911 call that a baseball player at the park had collapsed and may have been shot,” the Texarkana Texas Police Department said. “We were able to almost immediately determine that the two incidents were related, so as some officers were at the ball field rendering aid to the victim, other officers were on Lynda Street looking for any evidence or witnesses.”
Police officers were able to locate several spent shell casings in the front yard of the residence on Lynda Street and determined that the incident began as a disturbance at that location which eventually led to two men shooting at each other in front of the home when “one of those errant rounds travelled about 400 yards and struck the innocent victim at the ball field.”
The Texarkana Texas Police Department have issued felony warrants for the suspects involved in the shooting and have identified 17-year-old Kamauri Butler and 20-year-old Demarco Banks as those involved. Both Butler and Banks fled the area following the shooting, but officials said that Butler is now wanted for aggravated assault while Banks is wanted for deadly conduct.
“We made arrests of three other men who were [at the home] after detectives obtained a search warrant for the house and several vehicles at the scene,” authorities confirmed. Officers arrested Yankeengea Smith (49) for Unlawful Possession of a Firearm by a Felon and two counts of Possession of a Controlled Substance (methamphetamine and Ecstasy pills), Nathan Moore (19) for Tampering with Evidence and Possession of Marijuana, and Marcell Beaver (19) for Possession of Marijuana.”
The baseball player who was shot is currently in stable condition and expected to recover.
“We’ve heard that some people are saying that the suspects were either at Spring Lake Park or driving through there when the victim was shot. That’s simply not the case at all,” police said in a follow up statement regarding the shooting. “The disturbance and shooting all happened on Lynda Street and had nothing to do with the park itself or any event going on there. Tragically, one of the shots that Butler and Banks fired at each other on Lynda Street travelled several hundred feet and struck the unsuspecting victim at the ballpark.”
The baseball game was called off and the Scout-O-Rama event that was happening in another area of the park was also shut down early as a precaution in the immediate aftermath.
Anyone with information about the incident or who know where Kamauri Butler or Demarco Banks can be found is asked to contact Texarkana Area Crime Stoppers at 903-793-STOP.
(NEW YORK) — First Republic Bank has become the third bank to fail in recent months and the giant JPMorgan Chase will assume all of its assets, according to the Federal Deposit Insurance Corporation.
The FDIC said the deal avoids the agency having to use its emergency powers and would minimize disruptions for customers. It comes in the wake of the failure of Silicon Valley Bank and Signature Bank shortly thereafter.
Under the deal JPMorgan Chase is set to take on “all of the deposits and substantially all of the assets of First Republic Bank” after the Federal Deposit Insurance Corporation (FDIC) confirmed that the troubled bank had collapsed on Monday.
“JPMorgan Chase Bank, National Association submitted a bid for all of First Republic Bank’s deposits. As part of the transaction, First Republic Bank’s 84 offices in eight states will reopen as branches of JPMorgan Chase Bank, National Association, today during normal business hours,” the FDIC said in a statement obtained by ABC News. “All depositors of First Republic Bank will become depositors of JPMorgan Chase Bank, National Association, and will have full access to all of their deposits.”
First Republic Bank is the third major U.S. bank to collapse in recent months.
“As of April 13, 2023, First Republic Bank had approximately $229.1 billion in total assets and $103.9 billion in total deposits,” the FDIC said. “In addition to assuming all of the deposits, JPMorgan Chase Bank, National Association, agreed to purchase substantially all of First Republic Bank’s assets.”
The collapse of Silicon Valley Bank in March and Signature Bank shortly after that prompted widespread fears of a wider banking crisis that could affect the global economy.
The FDIC added that avoiding a takeover by the agency would “minimize disruptions for loan customers.”
Jonathan McKernan from the FDIC Board of Directors released a statement early Monday regarding First Republic Bank’s collapse.
“I am pleased we were able to deal with First Republic’s failure without using the FDIC’s emergency powers. It is a grave and unfortunate event when the FDIC uses these emergency powers,” said McKernan. “Any decision to use the FDIC’s emergency powers should be approached skeptically, taking into account the unique facts and circumstances of the time, and with careful attention to the implications for the future.”
ABC News’ Victoria Arancio contributed to this report.
