from Hacker News

Republic First Bank Seized by Regulators–First Bank Collapse of 2024

by sahin on 4/27/24, 12:22 AM with 8 comments

• by tom_vidal on 4/27/24, 6:31 AM

  I had an account at this bank for a few years, and didn’t know about the collapse until reading this in Hacker News. I did receive a weird email from the bank today that my account was being migrated to a different bank.

  Republic First was kind of a crappy bank. The website was bad, the customer service was bad, and most of their marketing prominently featured their CEO with his dog sitting on his lap in front of a new branch they’d just opened up.

  A few years ago the bank started making it difficult to withdraw money from your accounts. They had ridiculously low limits for free transfers, and I ended up having to pay wire transfer fees to get my money out of the bank.

  It was a weird place. Always got the vibe that some old money family ran it poorly.

• by blackhawkC17 on 4/27/24, 5:58 AM

  How funny that First Republic bank failed last year, and Republic First fails this year.

  Maybe customers mistook the latter for the former and started pulling their deposits..

• by diebeforei485 on 4/27/24, 4:13 PM

  This will continue as long s interest rates stay high.