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Philadelphia-based Republic First, which had abandoned funding talks with a group of investors, was seized by the Pennsylvania Department of Banking and Securities. The Federal Deposit Insurance Corp (FDIC), appointed as a receiver, said on Friday Fulton Bank, a unit of Fulton Financial Corp, will assume substantially all deposits and purchase all the assets of Republic Bank, which is the operating name for Republic First, to "protect depositors".

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

(Reuters) -The Federal Deposit Insurance Corp (FDIC) is in talks with potential buyers for Republic First Bancorp, Bloomberg News reported on Wednesday, citing people with knowledge of the matter. It is a repeat of the effort last year after the Philad...

The Federal Deposit Insurance Corp. (FDIC) is actively engaging in discussions with potential acquirers for the financially struggling Republic First Bancorp.…

The Federal Deposit Insurance Corp is in talks with potential buyers for Republic First Bancorp, Bloomberg News reported on Wednesday, citing people with knowledge of the matter. It is...