JPMorgan Chase & Co (NYSE:JPM) announced today that it expects its net interest income (NII) to be $3 billion higher than previously forecasted. This is due to the bank’s successful acquisition of assets from the failed First Republic Bank. JPM agreed to take on $173 billion of loans, $30 billion of securities, and $92 billion of deposits. The bank now expects its full-year NII to be $84 billion, up from the prior forecast of $81 billion. Shares of JPM are up 0.2% in premarket trading. Investors will get an update on the takeover of First Republic at the bank’s Investor Day event in New York.
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