Bank Failure
Republic Bank
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Closed April 26, 2024 · Philadelphia, PA · FDIC Cert #27332.
- Closing date
- April 26, 2024
- Headquarters
- Philadelphia, PA
- FDIC Certificate
- 27332
- Total assets at closing
- $5.87B
- Total deposits at closing
- $4.37B
- Estimated loss to the insurance fund
- $709.6M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Fulton Bank, N.A.
Context
On April 26, 2024, regulators closed Republic Bank, headquartered in Philadelphia, PA. At closing, the institution held approximately $5.87B in assets and $4.37B in deposits. The FDIC record names Fulton Bank, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $709.6M.
By assets at closing this is the 34th largest of the 3,526 bank failures in the FDIC record, and the 1st of 2 in 2024. It falls in the period the record labels Regional Banking Stress (2023-present), a period with 15 failures peaking at 6 in 2026.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Republic Bank fail?
Republic Bank was closed by regulators on April 26, 2024.
Who acquired Republic Bank?
The FDIC record names Fulton Bank, N.A. as the acquiring institution in the resolution of Republic Bank.
How big was Republic Bank when it failed?
Republic Bank had approximately $5.87B in total assets and $4.37B in deposits at the time of failure.
Other failures in 2024
| Date | Bank | Assets |
|---|---|---|
| Oct 18, 2024 | First NB of Lindsay | $107.8M |
Explore: all failures · PA bank events · 2024 events · events hub