The Philadelphia-based bank was seized by the Pennsylvania Department of Banking and Securities. Republic Bank had about $6 billion in total assets and $4 billion in total deposits, as of January 31, 2024. The FDIC estimated the cost of the failure to its fund would be $667 million.
US Banking Collapse: Republic Bank is the first US bank failure in 2024 - Investing Abroad News financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
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Republic First Bank closed as first U S bank failing in 2024-Xinhua english.news.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from english.news.cn Daily Mail and Mail on Sunday newspapers.