US regulators set to seize Republic First Bancorp, WSJ reports (updated)

Republic First Bancorp

26/04/2024 22:53

(Adds details from report in paragraph 2)
       April 26 (Reuters) - U.S. regulators are set to seize
Republic First Bancorp  FRBK.PK  and are nearing a deal to sell
it to another lender, the Wall Street Journal reported on Friday
citing people familiar with the matter.
    The deal could be announced as soon as Friday, the report
said, adding that the identity of the expected buyer could not
be learned and it is still possible the deal could collapse.
    FDIC and Republic First did not immediately respond to a
Reuters request for comment.

 (Reporting by Nathan Gomes in Bengaluru; Editing by Shilpi
Majumdar)
 ((Nathan.Gomes@thomsonreuters.com;))