Republic First seizure signals more bank failures to come, expert warns
Posted on AllSides April 30th, 2024
From The Right
Republic First Bank, a regional lender based out of Philadelphia, became the first bank failure of 2024 on Friday when it was shut down by Pennsylvania's bank regulator and the Federal Deposit Insurance Corp. (FDIC) seized control of the operation.
The FDIC quickly made a deal for Fulton Bank to buy Republic First's assets, but one expert on financial regulatory reform and bank failures says the collapse could be a harbinger of things to come.
"This bank failure indicates that additional failures will occur and will range between smaller community banks and larger banks,"...
AllSides Media Bias Rating: Lean Right
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