Mr Cooper Group Inc (COOP): Republic First Bank , a $6B institution...

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Mr Cooper Group Inc (COOP)

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Saturday, 04/27/2024 11:07:19 AM

Saturday, April 27, 2024 11:07:19 AM

Republic First Bank , a $6B institution gets seized yesterday, bought out the same day by Fulton Bank which agreed to assume substantially all of the failed bank’s deposits ($~4B) and buy essentially all of its assets, yet the FDIC states it will cost them $667M? So the FDIC is paying Fulton $667M to take RFB? How did the FDIC sell a bank the same day they seized it and how many other banks had an opportunity to bid on it? Oopps! I forgot, the FDIC gets do what ever they decide they are going to do... Rinse/Repeat.

https://fortune.com/2024/04/26/philadelphia-bank-implodes-failure/

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Recent COOP News

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