Latest Trending
Last Updated, Oct 27, 2023, 10:08 PM
Philadelphia Lender Agrees to Rescue Deal After Stock Plummets

[ad_1]

Updated Oct. 27, 2023 6:08 pm ET

A Philadelphia bank struggling to stay afloat agreed to a deal with an investor group aimed at shoring up its finances, a sign that smaller lenders are still under stress after a wave of failures shook the industry earlier this year.

Republic First Bancorp is set to receive a $35 million infusion from a group of existing investors led by George Norcross III, Philip Norcross and Gregory Braca, the bank said, confirming an earlier Wall Street Journal report. The bank is in talks to raise another $40 million to $65 million from additional investors.

Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

[ad_2]

Source link

24World Media does not take any responsibility of the information you see on this page. The content this page contains is from independent third-party content provider. If you have any concerns regarding the content, please free to write us here: contact@24worldmedia.com

Latest Post

Large part of Lynn Woods remains closed

Last Updated,Nov 30, 2024

Swampscott water tests lead-free – Itemlive

Last Updated,Nov 29, 2024

Mother needs help providing the Christmas experience

Last Updated,Nov 29, 2024

A cheerful fundraiser for Saugus team

Last Updated,Nov 29, 2024

Carl Daniel Reiter – The Suffolk Times

Last Updated,Nov 29, 2024

Joan Ann (Woessner) Polywoda – The Suffolk Times

Last Updated,Nov 29, 2024

Thomas L. Lewick – The Suffolk Times

Last Updated,Nov 29, 2024

Jeanette Howard – The Suffolk Times

Last Updated,Nov 29, 2024

Nina Mazzaferro – The Suffolk Times

Last Updated,Nov 29, 2024

Lynn mayor announces re-election bid

Last Updated,Nov 29, 2024

BARRETT: They ate plenty – Itemlive

Last Updated,Nov 29, 2024

Brooke Moloney, the Minutewoman – Itemlive

Last Updated,Nov 29, 2024