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FDIC says Republic First Bank is closed by Pennsylvania regulators | CNN Business

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FDIC says Republic First Bank is closed by Pennsylvania regulators | CNN Business




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The Federal Deposit Insurance Corporation on Friday said that Republic First Bank has been closed by Pennsylvania state regulators, in what the FDIC said was the first US bank failure this year.

“Philadelphia-based Republic First Bank (doing business as Republic Bank) was closed today by the Pennsylvania Department of Banking and Securities, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect depositors, the FDIC entered into an agreement with Fulton Bank, National Association of Lancaster, Pennsylvania to assume substantially all of the deposits and purchase substantially all of the assets of Republic Bank,” the FDIC said in a statement.

The bank had about $6 billion in total assets and $4 billion in total deposits at the end of January, the FDIC said in its release.

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That makes Republic Bank (FRBK) far smaller than the regional bank failures that rocked the financial world last year. Silicon Valley Bank, for example, had about $209 billion at the end of 2022; it collapsed in March 2023.

The FDIC said the former bank’s “32 branches in New Jersey, Pennsylvania and New York will reopen as branches of Fulton Bank on Saturday (for branches with normal Saturday hours) or on Monday during normal business hours.”

Those who have deposits at Republic Bank will become depositors at Fulton Bank, the FDIC said. The agency’s deposit insurance covers up to $250,000 per depositor.

Bloomberg News reported earlier in the week that the FDIC had approached buyers for the regional lender.

The FDIC said that Republic Bank was the first bank to fail in the United States since Citizens Bank in Sac City, Iowa, in November 2023.

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Republic First Bank is a separate entity from First Republic Bank, a San Francisco-based commercial bank that was closed in May 2023. The majority of the bank’s assets were sold to JPMorgan Chase.

The Philadelphia-based bank’s failure comes at a tumultuous time for regional banks, as elevated interest rates have hurt the credit-dependent industry.

Silicon Valley Bank’s collapse sparked a broader crisis last year. Signature Bank’s failure followed days later, and First Republic Bank failed a few weeks after that. In total, there were five bank failures in 2023, according to the FDIC.

Recently, New York Community Bank saw wild swings in its stock price as customers began pulling their cash from the regional lender after it said it had identified “material weakness” in the company’s controls. The bank got a $1 billion equity investment lifeline from investors, including former Treasury Secretary Steven Mnuchin’s firm, Liberty Strategic Capital, in March.

This story has been updated.

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Delaware County, Pennsylvania sports field damaged by ATVs, causing thousands of dollars in damages

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Delaware County, Pennsylvania sports field damaged by ATVs, causing thousands of dollars in damages


A sports field at Ridley Municipal Park in Delaware County has been shut down after police say off-road vehicles tore up the grass following a mid-December snowstorm, causing thousands of dollars in damage and threatening spring sports for hundreds of local children.

Ridley Township police say the field is now unsafe and unplayable after individuals illegally drove all-terrain vehicles and a dune buggy across the grass, leaving deep ruts and torn-up turf.

“The issue that we’re having is the field is unplayable now,” Sgt. Mark McKinney, of the Ridley Township Police Department, said.

Police believe the damage happened when the suspects were “joy riding” on the field after snowfall, performing donuts that dug deep grooves into the ground.

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“We believe they were joy riding. They did some donuts in the grass, and it dug up some big ruts into the grass, which causes a problem for when the kids have to go back out on the field in the spring,” McKinney said.

Investigators are asking for the public’s help identifying three individuals seen on surveillance video riding ATVs and a dune buggy through Ridley Township streets. Detectives believe they are responsible for an estimated $5,000 to $10,000 in damage to the park field.

Repairing the field will not be quick or simple, police said.

“It’s not just something that you can just go out there and patch right away,” McKinney said. “It’s something that’s going to take time.”

The repair process involves laying new soil, rolling the field and growing new grass — a timeline that could disrupt the upcoming sports season.

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“You can’t have the kids on there while the grass is growing or the grass won’t grow,” McKinney said. “So it’s set up quite a bit of a dilemma for us.”

The damage is especially personal for McKinney, who also serves as a coach for Ridley Youth Lacrosse. Fellow coach Matt Flynn said the damaged field is their primary game field, with the season scheduled to begin in less than two months.

“Right now, the field would be unplayable because any kid would turn their ankle in the ruts,” Flynn said.

Flynn added that the situation is frustrating after months of work maintaining the field.

“It’s more disappointment because we work so hard to get that field into good shape, and now we just have to start again and do more work, and then find other fields to play on during the season,” he said.

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Township officials are currently gathering repair estimates, but the field will remain closed until it is safe for play.

Police say the suspects could face charges including trespassing and criminal mischief. Anyone who recognizes the individuals seen in the surveillance footage is urged to contact Ridley Township police detectives.



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Man charged after over 100 human skeletal remains found in Pennsylvania home – National | Globalnews.ca

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Man charged after over 100 human skeletal remains found in Pennsylvania home – National | Globalnews.ca


A Pennsylvania man has been arrested and is facing more than 500 charges after he was accused of stealing human skulls and “numerous” skeletal remains from an abandoned cemetery on Philadelphia’s outskirts, according to police.

Bones and skulls visible in the back seat of a car near the cemetery led police to the home and storage unit of Jonathan Gerlach, 34, after police had been looking into a string of burglaries.

Investigators checked Gerlach’s licence plates and found that he had been near the cemetery repeatedly during the period when the burglaries occurred.

Officers say the Jan. 6 arrest culminated a months-long investigation into break-ins at Mount Moriah Cemetery, where at least 26 mausoleums and vaults had been forced open since early November.

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After searching Gerlach’s home and storage unit, investigators reported finding more than 100 human skulls, long bones, mummified hands and feet, two decomposing torsos and other skeletal items.

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“They were in various states. Some of them were hanging, as it were. Some of them were pieced together, some were just skulls on a shelf,” Delaware County District Attorney Tanner Rouse said.

Most of the findings were in Gerlach’s basement, authorities said. They also recovered jewelry believed to be linked to the graves, and a pacemaker that was still attached.

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“Detectives walked into a horror movie come to life in that home. It is truly, in the most literal sense of the word, horrific. I grieve for those who are upset by this, who are going through this, who are trying to figure out if it is, in fact, one of their loved ones,” Rouse added.

Police say Gerlach targeted mausoleums and underground vaults at the cemetery, which was established in 1855. Gerlach was arrested as he walked back toward his car with a crowbar, police said.

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He also had a burlap bag in which officers found the mummified remains of two small children, three skulls and other bones.

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Gerlach then told investigators that he took around 30 sets of human remains and showed them the graves he stole from, police said.

Police believe the remains were also taken from other cemeteries in the region. They are investigating the Human Bones and Skull Selling Group on Facebook, where Gerlach was reportedly tagged and pictured holding a skull.

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He was charged with 100 counts each of abuse of a corpse and receiving stolen property, along with multiple counts of desecrating a public monument, desecrating a venerated object, desecrating a historic burial place, burglary, trespassing and theft.

Mount Moriah Cemetery released a statement on its Instagram Stories following Gerlach’s arrest, thanking Delaware County District Attorney’s Office, the Yeadon Police Department and the Philadelphia Police Department for “their hard work and dedication to this case.”

“Our team has been working alongside all parties involved and will continue to do so throughout the remainder of the investigation. Please direct any specific questions regarding this case to the Delaware County District Attorney’s Office,” it said.

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“Mount Moriah is the largest abandoned cemetery in the United States. Its historic grounds are cared for by a dedicated group of approximately 12 volunteers who show up week in and week out to preserve this space.”

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Gerlach is being held on $1-million bail, and his preliminary hearing is scheduled for Jan. 20.

With files from The Associated Press

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&copy 2026 Global News, a division of Corus Entertainment Inc.





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Here’s what to try at this year’s Pennsylvania Farm Show food court

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Here’s what to try at this year’s Pennsylvania Farm Show food court


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As we were sequestered around the Expo Hall and Main Hall at the Pennsylvania Farm Show Complex and Expo Center, guided by Pennsylvania Secretary of Agriculture Russell Redding and a Benjamin Franklin re-enactor Bill Robling, my mind began to wander to food.

Thursday marked my inaugural visit to the annual Pennsylvania Farm Show in Harrisburg, the 110th iteration the expo and one that coincided with the 250th anniversary of the Untied States’ founding. While I and York Daily Record photographer Paul Kuehnel joined a flock of other reporters for the Farm Show’s preview, we were treated to a taste of many of the foods, both new and returning, that would be offered to visitors in the sprawling food court inside the Expo Hall.

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Considering I hadn’t had breakfast that morning, I was willing to oblige.

With such an anniversary on the horizon, the Pennsylvania Dairyman’s Association unveiled a flight of red, white and blue milkshake flavors. Newer additions to the menu including pickle pizza from the Pennsylvania FFA and Lion’s Mane coffee from the Pennsylvania Mushroom Farmers, among others.

Here are some of the items the preview provided, as well as what to try when the food court opens at noon on Jan. 9.

Lion’s Mane Mushroom Coffee

Mushrooms are a major cash crop for Pennsylvania, with nearly 60 percent of U.S. production of the crop running through the commonwealth. Lion’s Mane mushrooms, especially, have been linked to brain health benefits thanks to anti-inflammatory and antioxidant compounds, according to a published paper by the journal Nutrients.

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The coffee itself is a dark roast blended with ground Lion’s Mane mushrooms, and the flavor provides a slight, hearty twang to its benefit. Considering I hadn’t had my own coffee that morning, it provided me with an immediate jolt of energy.

Pierogi

Fun fact: pierogi is plural! A classic done right by the PA Cooperative Potato Growers, Inc., the pierogi are soft, chewy and contain a starchy potato filling that satisfies any craving but doesn’t weigh you down. The pierogi also come with grilled onions on top, which adds a savory boost to keep you wanting more.

Blended Mushroom Steakhouse Burger

Piled high with a mix of mushrooms grown right in Pennsylvania and a slathering of Alabama barbecue sauce, the Pennsylvania Mushroom Farmers offer a burger with a twist. The patty itself is 75 percent grass-fed beef, 25 percent mushroom, and it works. The burger retains the flavor of a traditional all-beef patty while keeping in style with the Pennsylvania Mushroom Farmers’ mission to introduce the state’s cash crop to a variety of dishes. And the Alabama barbecue sauce provides a twang to the ensemble.

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Stuffed Baby Bella Mushrooms

Returning to the menu provided by the Pennsylvania Mushroom Farmers, you are provided with four bite-sized mushrooms that come in two flavors: artichoke and spinach and bacon and cheese.

The mushrooms are an excellent snack or starter for the Farm Fest, filled with flavor and firm enough to burst with juices after your first bite.

Potato Doughnut

The granddaddy of them all and a Farm Show staple, the potato doughnut makes its return in its three traditional flavors: plain, powdered and cinnamon sugar. It’s not as flaky as a traditional doughnut, and not as heavy either.

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Red, White and Blue Milkshakes

With the 250th anniversary of the United States’ founding, the The Pennsylvania Dairyman’s Association, a vendor with the Farm Show since 1955, saw fit to roll out a milkshake flight of red, white and bBlue milkshakes to ring in the sestercentennial. The white is a normal vanilla flavor, the red is strawberry and the blue is a raspberry flavor.

The Dairyman’s Association has also made an intentional move this year away from artificial dyes in their milkshakes, shifting to natural dyes to provide the color.

Dave Smith, executive director of the Pennsylvania Dairyman’s Association, said the move had been a goal of the Dairyman’s Association ahead of the nation’s 250th anniversary.

“That was one of my priorities, to figure out how we could do something like that,” Smith said. “What we found is that (the colors) are not as distinct as what they would have been if they were artificial. It’s more subtle.”

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This shift doesn’t affect the flavor one bit. All three options are sweet, thick and delicious, as to be expected.

Plan your trip to the Pennsylvania Farm Show

For more information about the Farm Show, check out the full schedule of events here. The food court opens to the public on Jan. 9 from noon until 9 p.m. with the bulk of the expo running from Jan. 10-17.



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