TIMELINE-Republic First becomes first casualty of U.S. bank crisis in 2024

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)