Republic Bank (merged into Fulton Bank)
Republic Bank reported total assets of $5.9 bn at Q4 2023, its last Call Report before it merged into Fulton Bank. The CET1 capital ratio at Republic Bank was 8.83%, and the uninsured share of Republic Bank was 51.51%. Source: FDIC Call Reports.
What sets Republic Bank apart
Nothing in the latest data sets Republic Bank apart from banks of its size: no ratio in the top or bottom tenth of its size group, no large rank move or year change, and no acquisition in the FDIC history since 2016. This page is kept out of search results until that changes.
How large is Republic Bank?
The balance sheet of Republic Bank at : assets $5.9 bn, deposits $4.4 bn, net loans $3.0 bn (loans equal to 69.01% of deposits). Securities make up 40.5% of total assets at Republic Bank. Since , when Republic Bank held $1.5 bn, its assets grew 297.1%. In the year to , deposits at Republic Bank fell 12.8% while its total assets fell 1.8%. At , Republic Bank employed 434 full-time equivalent staff across 34 offices, about $13.5 mn of assets per employee and $128.6 mn of deposits per office.
How much funding at Republic Bank is uninsured?
At Republic Bank, uninsured deposits (above the FDIC limit) made up 51.51% of domestic deposits at (-12.41 pp on a year earlier). In dollars, Republic Bank estimated $2.3 bn of uninsured deposits.
Key facts, Q4 2023
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $4.4 bn | $5.0 bn (Q4 2022) | |
| Net loans and leases | $3.0 bn | $3.1 bn (Q4 2022) | |
| Loan-to-deposit ratio | 69.01% | 62.12% (Q4 2022) | |
| Tier 1 leverage ratio | 4.43% | 5.27% (Q4 2022) | |
| Total risk-based capital ratio | 9.59% | 10.20% (Q4 2022) | |
| Net interest margin | 1.22% | 2.68% (Q4 2022) | |
| Return on assets (ROA) | -0.71% | 0.20% (Q4 2022) | |
| Efficiency ratio | 145.34% | 75.60% (Q4 2022) | |
| Unrealized gain/loss on held-to-maturity securities | Loss of $262.2 mn | Narrowed by $1.6 mn | |
| Unrealized gain/loss on available-for-sale securities | Loss of $163.0 mn | Narrowed by $9.1 mn | |
| Noncurrent loans to total loans | 0.67% | 0.55% (Q4 2022) | |
| Net charge-offs to average loans | 0.01% | 0.09% (Q4 2022) |
US rank of Republic Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
Republic Bank: assets, deposits and loans
- Total assets $5.9bn
- Deposits $4.4bn
- Net loans $3.0bn
Capital and securities
The CET1 ratio of Republic Bank stood at 8.83% in , -0.62 pp year on year. Low and high at Republic Bank since : 8.83% () to 13.56% (). Equity capital of Republic Bank at : $104.6 mn, or 1.8% of total assets. Republic Bank also reported a total capital ratio of 9.59% for , and a tier 1 leverage ratio of 4.43%.
On held-to-maturity securities, Republic Bank carried an unrealized loss of $262.2 mn at , equal to 250.7% of equity capital. The loss narrowed by $1.6 mn over the year. Its deepest point: $331.6 mn in . The available-for-sale portfolio of Republic Bank showed an unrealized loss of $163.0 mn at ; the loss narrowed by $9.1 mn over the year.
Republic Bank: capital ratios
- Total capital 9.6%
- CET1 8.8%
- Tier 1 leverage 4.4%
Republic Bank: unrealized securities gains and losses
- Available for sale -$163mn
- Held to maturity -$262mn
Profitability and loan quality
For the year to , Republic Bank earned a return on equity of -36.61%; return on assets: -0.71%. Net interest margin at Republic Bank: 1.22%, -1.47 pp in a year. Republic Bank net income: -$42.7 mn, down 471.6% year on year. The efficiency ratio of Republic Bank was 145.34%: about 145 cents cost per revenue dollar, against 60 cents at the median peer.
At , noncurrent loans were 0.67% of total loans at Republic Bank; net charge-offs: 0.01% of average loans. Gross loans and leases at Republic Bank: $3.0 bn at , against $3.1 bn at .
Republic Bank: profitability
- Return on equity -37%
- Net interest margin 1.2%
- Return on assets -0.7%
Peer group of Republic Bank
The peer group of Republic Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 2 share the charter type of Republic Bank (state nonmember bank) and 1 has its head office in Pennsylvania. Against them, Republic Bank shows CET1 ratio 8.83% against a peer median of 11.95%, return on equity -36.61% against a peer median of 11.59% and uninsured deposit share 51.51% against a peer median of 28.43%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| Five Star Bank | State member bank | NY | $6.1 bn | 10.82% | 11.79% | 34.72% | |
| Shore United Bank | National bank | MD | $6.0 bn | 10.02% | 2.50% | 19.45% | |
| Poppy Bank | State nonmember bank | CA | $5.9 bn | 11.95% | 10.87% | 28.65% | |
| Republic Bank | State nonmember bank | PA | $5.9 bn | 8.83% | -36.61% | 51.51% | |
| Great Southern Bank | State nonmember bank | MO | $5.8 bn | 13.07% | 12.13% | 32.07% | |
| Community Trust Bank, Inc. | State member bank | KY | $5.7 bn | not reported | 11.44% | 27.01% | |
| CNB Bank | State member bank | PA | $5.7 bn | 12.31% | 11.75% | 28.21% | |
. FDIC Call Reports.
Last eight quarters
Two years at Republic Bank, to : assets $5.7 bn to $5.9 bn, deposits $5.3 bn to $4.4 bn, equity $274.1 mn to $104.6 mn. Staff 541 to 434; offices 35 to 34.
| Metric | Q1 2022 | Q2 2022 | Q3 2022 | Q4 2022 | Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $5.7 bn | $5.8 bn | $6.0 bn | $6.0 bn | $6.1 bn | $6.0 bn | $6.3 bn | $5.9 bn |
| Total deposits | $5.3 bn | $5.2 bn | $5.3 bn | $5.0 bn | $4.9 bn | $4.7 bn | $4.4 bn | $4.4 bn |
| Bank equity capital | $274.1 mn | $237.2 mn | $191.8 mn | $131.1 mn | $138.8 mn | $124.4 mn | $84.5 mn | $104.6 mn |
| CET1 ratio | 10.50% | 10.18% | 9.52% | 9.45% | 9.16% | 9.02% | 9.08% | 8.83% |
| Return on equity (ROE) | 9.07% | 11.80% | 10.95% | 4.97% | -29.21% | -30.29% | -33.16% | -36.61% |
| Uninsured share of domestic deposits | 64.17% | 62.17% | 63.89% | 63.92% | 61.59% | 59.85% | 56.69% | 51.51% |
| Full-time equivalent employees | 541 | 541 | 547 | 522 | 541 | 460 | 444 | 434 |
| Number of offices | 35 | 36 | 36 | 36 | 36 | 35 | 35 | 34 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Republic Bank, oldest first; figures before and after each event are not like for like.
- . Merged into Fulton Bank, National Association (FDIC certificate 7551).
Large one-quarter moves at Republic Bank
- Total assets at Republic Bank changed by +34.5% in the quarter to 2020-06-30, with no FDIC structure event in that quarter.
Questions and identifiers
What were the total assets of Republic Bank?
Republic Bank reported $5.9 bn at in its Call Report.
Is Republic Bank the same as its holding company?
No. This page covers Republic Bank, FDIC certificate 27332; REPUBLIC FIRST BCORP INC (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Republic Bank profitable?
Republic Bank reported net income of -$42.7 mn for the year to ; annualized return on equity: -36.61%. So no: Republic Bank made a loss over these months.
When is data for Republic Bank next updated?
Republic Bank no longer files Call Reports; its data ends at .
Where can I check the figures for Republic Bank?
In the FDIC BankFind Suite record for certificate 27332, and in the Call Reports of Republic Bank (RSSD ID 1216321) at the FFIEC Central Data Repository.