Regulators are set to seize the troubled Philadelphia bank Republic First Bancorp and are near a deal to sell it to another lender, the fourth high-profile bank failure since last spring.
What happened to Republic First?
The same thing that happened to the others:
Republic First faced some of the same problems as the three regional banks that failed last year: paper losses on assets that lost value as interest rates rose and high proportions of uninsured deposits that can quickly flee
Why do I think this won’t be the last bank failure of 2024? WSJ captured the situation in a nutshell:
I’m going to explain the issues banks are facing in greater detail, and then explain why I don’t think this will be the last bank failure of the year.
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