JPMorgan's First Republic takeover leads to $3 billion boost in net interest income.
JPMorgan Chase & Co expects its net interest income to rise to $84 billion from higher interest payments in 2023, increasing an earlier forecast of $81 billion, after it bought First Republic Bank. Integration costs from the deal will add $3.5 billion to its expenses this year, adding to an earlier forecast of $81 billion. The bank also restated its 17% target for return on tangible common equity.