A small bank based out of Philadelphia is following the same path as banks that collapsed earlier this year, worrying some that it could trigger another banking crisis, according to The Wall Street Journal.
Republic First Bank, which holds $6 billion in assets, is following the same path as First Republic Bank did earlier this year, which ultimately led to the collapse of the bank as a part of a broader industry crisis, according to the WSJ. The banking sector faced a crisis starting in March after frightened depositors triggered a bank run at several banks, including the medium-sized Silicon Valley Bank and Signature Bank. (RELATED: Regional Banks Still Shaky Six Months After Major Collapses)
“With Republic First, we’re just worried about pure contagion,” Lawrence White, an economics professor at New York University and former banking regulator, told the WSJ. “The uninsured…
