Regulators late Friday Seized Republic First First bank to fail this year

The relatively small bank, the first to fail this year

Republic First  had about $4 billion in deposits at the end of January. 

Founded in 1988, Republic First was smaller than the midsize banks that collapsed last year — including First Republic Bank and Silicon Valley Bank, whose assets each topped $200 billion. 

The F.D.I.C. expects the cost to the Deposit Insurance Fund to be $667 million.

New York Times 26 April 2024

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