The combination will initially give Fulton a total of nearly $9 billion in deposits and more than 80 branches in the region, giving it the fifth-largest branch network after Citizens, Wells Fargo, PNC and TD.
PHILADELPHIA — Fulton Financial Corp. of Lancaster will roughly double its presence in the Philadelphia area by taking over $4 billion in customer deposits, nearly $3 billion in loans, and 30 area branches from the long-troubled Republic Bank of Philadelphia .
“We are excited,” Curt Myers, chairman and chief executive of Fulton, said in a statement Friday, promising Republic customers “uninterrupted access to their accounts” through online accounts, automatic tellers and banking cards. Fulton planned to open Republic branches “as early as” Saturday. The takeover ended a series of dramatic and desperate moves to improve Republic’s prospects since Vernon Hill, already the bank’s board chairman and a major investor, took over as chief executive in 2021 and expanded plans to add branches in Pennsylvania and metro New York, at a time when more Americans were banking online and most banks were shutting branches.
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