FIRST REPUBLICBANK DELAWARE Failed 1988
What happened
FIRST REPUBLICBANK DELAWARE of NEWARK, DE was closed on 1988-08-02. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CITIBANK DELAWARE (NEW CASTLE, DE). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1846
- FDIC Certificate
- 26723
- FDIC FIN
- 2886
- Bank name
- FIRST REPUBLICBANK DELAWARE
- Location
- NEWARK, DE
- Failure date
- 1988-08-02
- FDIC resolution date
- 1988-10-31
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $0M
- Deposits at failure
- $165M
- Assets at failure
- $582M
- Acquiring bank
- CITIBANK DELAWARE (NEW CASTLE, DE)