Republic First Bank CEO to customers, investors: We are not First Republic
Banking news
Source: bankingdive.com
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Both banks with New York customer bases have issues, just not the same ones
A case of mistaken identity is sparking a sell-off in Republic First Bancorp Inc., which is down more than 40% this month because investors have it confused with embattled First Republic Bank.
Investors have been mistakenly dumping their stakes in Republic First Bancorp because they confused it with the troubled lender First Republic.
Republic First is a regional bank focused on commercial and retail customers. First Republic, meanwhile, specializes in private banking for the wealthy.