FDIC suspends Republic First Bancorp's auction process
- Bloomberg News Reuters
November 1, 20231:34 PM
Nov 1 (Reuters) - The Federal Deposit Insurance Corp (FDIC) has suspended an auction process for Republic First Bancorp (FRBK.PK), after the bank struck a deal with an investor group to raise money, Bloomberg News reported on Wednesday.
The FDIC notified potential buyers on Tuesday that the bank's capital-raising effort was the avenue it was focused on pursuing, the report added, citing people familiar with the matter.