First Horizon and TD Bank announced on Thursday they have mutually agreed to call off a planned $13 billion merger that would have formed the country’s six-largest bank.

Republic Bank is the first U.S. bank failure this year; the last failure was Citizens Bank, Sac City, Iowa, on November 3, 2023.” Republic Bank did not immediately respond to a request for comment.

Fulton agreed to acquire all $6 billion of Republic's assets, along with the bank's $5.3 billion in liabilities in the form of $4 billion in deposits and "other borrowings and liabilities" of $1.3 ...

Cleaning up First Republic’s collapse will cost the FDIC roughly $13 billion from the Deposit Insurance Fund (DIF), a pool of money funded by bank fees that exists to protect deposits.

Republic Bank is the first U.S. bank failure this year; the last failure was Citizens Bank, Sac City, Iowa, on November 3, 2023.” Republic Bank did not immediately respond to a request for comment.