Bank failure in Philly. Signs of a terrible economy?

[1srelluc]

Could be shitty undisciplined banking practices.

It being in Philly is called a clue in that regard.

 

[Winco]

The cult will spin that to be a good thing.

You are the Cult, and of course you spin everything.

"No, I don't take ANY responsibility at ALL." DJT

But let's blame (D) for trumps failed pandemic response.

 

[ColonelAngus]

Philly local bank failure.

Keep voting Dem, Philly….you fucking morons.

 

[ColonelAngus]

The Philly homocide rate….all Trump’s fault?

Dim leadership has been GREAT for that city!

 

[Manonthestreet]

If only we’d had a successful businessman at the helm during the pandemic, the problems with supply chains and small business failures may not have happened.

but but everyone would have died from the covid......ummmmm.....ummmm

 

[yidnar]

Could be shitty undisciplined banking practices.

could be shitty undisciplined leadership in DC ...

 

[Billiejeens]

Watch the movie, "The Big Short".

They collapse for a variety of reasons.
Greed and ambition are two of the biggest.

Biden's

 

[Crepitus]

Philadelphia-Based Republic First Bank Collapses in First Bank Failure of 2024

The FDIC entered into an agreement with Fulton Financial to assume the deposits and assets of the failed bank.

www.theepochtimes.com

It does not look good, that is for sure.

Why do banks collapse?

EDIT!!!

Looks like commercial realestate is the issue.

Here's something a little more honest the epoch times (lol)

Regulators close Philadelphia-based Republic First Bank, first US bank failure this year

Regulators have closed Republic First Bank, a regional lender operating in Pennsylvania, New Jersey and New York.

apnews.com

 

[Billiejeens]

The economy and jobs are looking up; crime is going down; we’re standing up to dictators. Sounds like a steep hill for Trump and MAGA to climb!

Real world, none of that is true.

 

[Billiejeens]

Mismanagement.

In the White House.

 

[yidnar]

If only we’d had a successful businessman at the helm during the pandemic, the problems with supply chains and small business failures may not have happened.

democrappers don't realize the pandemics been over for nearly 3 yrs .. its ok .. you don't have to wear a mask while driving your pastel pink Prius any more girly man .

 

[22lcidw]

If only we’d had a successful businessman at the helm during the pandemic, the problems with supply chains and small business failures may not have happened.

These endless lies get people exterminated. Progs framed their COVID solutions before when Joe was installed. They lied again.

 

[Dragonlady]

Philadelphia-Based Republic First Bank Collapses in First Bank Failure of 2024

The FDIC entered into an agreement with Fulton Financial to assume the deposits and assets of the failed bank.

www.theepochtimes.com

It does not look good, that is for sure.

Why do banks collapse?

Instead of quoting a Chinese propaganda newspaper, why not get some fact based reporting:

Hereâs What Led To Republic Firstâs CollapseâAnd Why Itâs Different From 2023 Failures

An auditor previously warned the bank of “material weaknesses” of internal controls.

www.forbes.com

It's a very small bank with a troubled financial history, and was overinvested in low rate home-owner mortgages. A deal has already been made to sell the bank and it's assets.

 

[john doe 101]

Philly local bank failure.

Keep voting Dem, Philly….you fucking morons.

You really have no idea how things work, do you?

 

[konradv]

These endless lies get people exterminated. Progs framed their COVID solutions before when Joe was installed. They lied again.

Who talked about injecting bleach and shining ultraviolet lights, not Joe?!

 

[konradv]

Real world, none of that is true.

Make up any statistics that make you feel better, but I don’t see much real in your “real world”.

 

[konradv]

Pure propaganda. We lost 1.5 million full time jobs in March. The unemployment number is faked up with government hiring. Inflation is rising again. The 30 year mortgage rate is over 7% again. Gas prices are jacked back up over $5 a gallon here. Credit card defaults are at 20 year highs.

..and what of next month? The trend is up and points to re-election for Joe.

 

[LAUGHatLEFTISTS]

The economy and jobs are looking up; crime is going down; we’re standing up to dictators. Sounds like a steep hill for Trump and MAGA to climb!

Sure they are Ranger. Sure they are.

 

[konradv]

Sure they are Ranger. Sure they are.

 

[citygator]

Banks fail every year. Trump saw 16 failures. 4 per year with the highest year 8 in 2018.

This was the first and only of 2024. So 3 more to match an average Trump year.

FDIC: Bank Failures in Brief

Bank Failures in Brief – Summary 2001 through 2023

www.fdic.gov