Fulton Bank Acquires Republic First's Pennsylvania, New York, and New Jersey Branches
Fulton Bank Expands Footprint in Northeast
Deal Bolsters Fulton's Presence in Key Markets
Lancaster, PA – May 1, 2023 – Fulton Bank, headquartered in Lancaster, Pennsylvania, has announced an agreement with regulators to acquire 32 branches of Republic First Bank in Pennsylvania, New York, and New Jersey.
Republic Bank, formerly known as Republic First Bancorp, had approximately $4 billion in deposits and $6 billion in assets as of January 2023. The acquisition significantly expands Fulton Bank's footprint in the Northeast, bolstering its presence in key markets.
The deal, which is expected to close later this year, is subject to customary regulatory approvals. Upon completion, Fulton Bank will assume all of Republic Bank's deposits and substantially all of its loans. Republic Bank's customers will become Fulton Bank customers.
"We are excited to welcome Republic Bank's customers and employees to Fulton Bank," said Ken Thompson, President and CEO of Fulton Bank. "This acquisition is a strategic step forward for Fulton Bank, enhancing our presence in key markets and strengthening our commitment to providing high-quality financial services to our customers."
Updated May 3, 2023:The Federal Deposit Insurance Corporation (FDIC) has approved Fulton Bank's acquisition of Republic Bank. The deal is expected to close on May 5, 2023.
Note: First Republic Bank was not involved in the acquisition. The federal government seized First Republic Bank on March 10, 2023, and sold it to JPMorgan Chase. 
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