Bank failure · DE

First Republicbank Delaware (Newark, DE) — failed August 2, 1988

First Republicbank Delaware of Newark, Delaware was closed on August 2, 1988 and resolved through a purchase and assumption. Citibank Delaware (DE) took over its insured deposits. At failure it held $582.4M in assets and $164.9M in deposits. The FDIC's estimated loss on the failure is $249K (0.0% of assets).