The first bank failure of 2024 has taken place.
Republic First Bank, which operated in Pennsylvania, New Jersey and New York, was seized Friday by the Federal Deposit Insurance Corp., according to The Associated Press.
The Philadelphia-based bank, which did business as Republic Bank, was sold to competitor Fulton Bank, based in Lancaster, Pennsylvania.
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Republic Bank’s 32 branches were scheduled to open Saturday as Fulton Bank branches.
The deposit insurance fund will be out $667 million due to the bank’s failure.
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First US BANK Failure this year as they say! pic.twitter.com/jFYi0iFy7f
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The most recent bank failure came
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