Republic Bank Shuts Down; FDIC Coordinates $10 Billion Asset Transfer to Fulton Bank US regulators have closed Republic Bank, marking 2024’s first bank failure. The FDIC is safeguarding $10 billion, comprising $6 billion in assets and $4 billion in customer deposits, transferring them to Fulton Bank. Republic Bank’s 32 branches across New Jersey, Pennsylvania, and New York will resume operations under Fulton Bank this weekend or Monday, depending on regular branch hours. Customers can access funds through checks, ATMs, or debit cards. This transition follows significant bank failures in the previous year and comes amid ongoing concerns about the banking sector’s stability due to its connections with the volatile commercial real estate market and US Treasuries. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts The Commodities Feed: Gold Nears $2,200/oz READ MORE Bill Gross Urges Federal Reserve to Halt Tightening and Slash Rates to Avert Recession READ MORE What Is the Gold Spot Price and How Is It Set? READ MORE Fed's Harker Leans Towards Modest 25bp Rate Cut to Start Easing Cycle READ MORE Gold Tumbles Amid Global Stock Market Turmoil, but Outlook Remains Positive READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment