• 13/06/2024 00:45

Another bankrupt regional bank will be sold in the US

The Pennsylvania Department of Banking and Securities seized Republic First Bancorp, agreeing to sell it to Fulton Bank. This is reported by Reuters.

Another bankrupt bank will be sold in the USA bankrupt regional bank

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As of January 31, 2024, the bank's total assets amounted to about $6 billion, and deposits – $4 billion. According to the Federal Deposit Insurance Corporation, losses from bankruptcy will amount to $667 million.

Fulton Bank, a division of Fulton Financial Corp., will take over almost all of the deposits and will acquire all of the assets of Republic Bank.

This is the fourth time that a regional bank in the United States has fallen in the last 2 years.

minfin.com.ua

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