April 29 (Reuters) - U.S. regulators on Friday seized
Philadelphia-based Republic First Bancorp and agreed
to sell it to Fulton Bank, a unit of Fulton Financial Corp
.
    The latest casualty will cost the deposit insurance fund
$667 million and underscores the ongoing challenges weighing
down regional banks one year after three U.S. mid-sized lenders
shuttered.
    Here is a timeline of the U.S. banking crisis that erupted
in 2023:
    
   Date           Name of the bank              About
 March 10, 2023  Silicon Valley Bank  A California regulator
                                      closed startup-focused
                                      Silicon Valley Bank and
                                      appointed the Federal
                                      Deposit Insurance
                                      Corporation (FDIC) as
                                      receiver to take control
                                      of its parent company
                                      after clients withdrew
                                      $42 billion and caused a
                                      deposit run.
                                      
                                      Raleigh, North
                                      Carolina-based First
                                      Citizens BancShares
                                                later acquired
                                      Silicon Valley Bank's
                                      assets and deposits for
                                      up to $500 million in
                                      stock — a fraction of
                                      what the bank was worth
                                      before it failed.
 March 12, 2023  Signature Bank       State regulators closed
                                      Signature Bank and the
                                      FDIC took control of the
                                      New York-based
                                      crypto-focused lender
                                      after it lost 20% of
                                      deposits in the hours
                                      following SVB's
                                      collapse. 
                                      
                                      FDIC established a
                                      "bridge" successor bank
                                      to enable customers to
                                      access their funds and
                                      later facilitated a deal
                                      for New York Community
                                      Bancorp's         
                                      subsidiary Flagstar Bank
                                      to buy out nearly all of
                                      Signature Bank's
                                      deposits, some loan
                                      portfolios and all 40
                                      branches. 
                                      
 May 1, 2023     First Republic Bank  California regulators
                                      seized First Republic
                                      Bank in what was the
                                      third bank to collapse,
                                      catalyzed by the fallout
                                      of the U.S. banking
                                      turmoil that wiped away
                                      over $100 billion in
                                      deposits in a matter of
                                      weeks.
                                      
                                      First Republic was
                                      subsequently seized by
                                      the FDIC and most of its
                                      assets were sold to
                                      JPMorgan Chase        .
 April 26, 2024  Republic First Bank  U.S. regulators have
                                      seized Republic First
                                      Bancorp and agreed to
                                      sell it to Fulton Bank
                                      after it abandoned
                                      funding talks with a
                                      group of investors.
                                      
                                      Fulton will assume
                                      substantially all
                                      deposits and purchase
                                      all the assets of
                                      Republic Bank. 
   

 (Reporting by Mehnaz Yasmin in Bengaluru; Editing by Vijay
Kishore)