FRBK- 1st Bank Failure of 2024

No special indicators here. FRBK closed by regulators on 4-26-2024. The company was founded on November 16, 1987, and is headquartered in Philadelphia, PA. This is not to be confused with the other regional bank closed last year about the same approx. time FRC- First Republic Bank which failed and subsequently bought by JP Morgan on April 26, 2023. Official statement released May 1, 2023. fdic.gov/news/press-releases/2023/pr23034.html

How many more set to fail? I have also noticed consolidation of banks taking place and notifications going out indicating they will not be FDIC insured after they consolidations- making deposits in this climate more risky to customers.

FRBK Source: cnn.com/2024/04/26/business/regulators-seize-republic-first-bancorp/index.html

註釋

June 5, 1988.First Trade Date-Nasdaq

註釋

This bank is still currently traded- WOW

註釋

The New ticker FRBKQ- traded on OTC with a totally manipulated price chart.