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US regulators seize, sell Philadelphia-based bank; first US bank failure of this year

The Philadelphia-based bank was seized by the Pennsylvania Department of Banking and Securities. Republic Bank had about $6 billion in total assets and $4 billion in total deposits, as of January 31, 2024. The FDIC estimated the cost of the failure to its fund would be $667 million.
New York United States New Jersey Philip Norcross Deposit Insurance Corp Republic First Bancorp

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