Pennsylvania-based Fulton Bank, National Association of Lancaster, has agreed to assume most of the deposits and assets of Republic First Bank, which state regulators seized on Friday to “protect depositors.”
Republic collapsed after it failed to raise $75 million in capital from investors and exited the mortgage lending space. It also comes after last year’s failures of First Republic Bank, Silicon Valley Bank and Signature Bank.
According to bank regulators, Republic’s 32 branches in New Jersey, Pennsylvania and New York are now operating under the Fulton Bank brand, with depositors transitioning from details ⇒
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