Americans should remain confident in the safety of their bank deposits, House Financial Services Committee Chairman Patrick McHenry said in a statement Monday after the third failure of a major U.S. bank in two months.

McHenry, R-N.C., praised the "quick work" of the Federal Deposit Insurance Corporation, which seized First Republic Bank's assets over the weekend. JPMorgan Chase & Co., the nation's largest bank, said it would buy most of the trouble lender's assets.