Regulators Step In: Republic First Sold to Fulton Bank

  • U.S. regulators seized Republic First Bancorp to prevent a bank failure.
  • The Federal Deposit Insurance Corp (FDIC) facilitated the sale to Fulton Bank.
  • This move protects depositors' money, as Fulton assumes most of Republic's assets and liabilities.
  • Republic First struggled financially following failed investor funding talks.
  • This marks the first U.S. bank failure of 2024, highlighting ongoing challenges for regional banks.

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