FIRST U.S. BANK FAILURE OF THE YEAR: Regulators close US’ Republic First Bank — FDIC
Concern about the health of the banking industry at large have persisted this year, triggered by fears over the industry’s exposure to commercial real estate as well as their exposure to unrealized losses on US Treasuries.
Regulators have closed Republic First Bank, a regional lender operating in Pennsylvania, New Jersey and New York. The Federal Deposit Insurance Corp. said Friday it had seized the Philadelphia-based bank, which did business as Republic Bank and had roughly $6 billion in assets and $4 billion in deposits as of Jan. 31.
US regulators seize troubled lender Republic First, sell it to Fulton Bank
By Reuters
$10,000,000,000 Bank Shut Down By US Regulators In First Bank Failure Of 2024
12 hours ago — WASHINGTON — Philadelphia-based Republic First Bank (doing business as Republic Bank) was closed today by the Pennsylvania Department of Banking and ...
7 hours ago — U.S. regulators have seized Republic First Bancorp and agreed to sell it to Fulton Bank, underscoring the challenges facing regional banks a year after the ...
11 hours ago — The bank was closed by the Pennsylvania state regulator on Friday and sold after an auction run by the Federal Deposit Insurance Corp., confirming an earlier ...
8 hours ago — Republic First Bank's 32 branches across the United States will reopen under Fulton Bank starting next week, according to the FDIC. 6987 Total views.
6 hours ago — The lender is the first FDIC-insured institution to fail in the US this year. The last bank failure — Citizens Bank, based in Sac City, Iowa — was in November.
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