On Friday, April 26, the first major regional bank failure for 2024 was marked when Republic First Bancorp was seized by Pennsylvania regulators. Dorsey & Whitney’s banking attorney Joseph Lynyak was quick to provide comments for reporters and media outlets to use with insight on the seizure. Joesph is one of the nation’s leading professionals in the country on financial regulatory reform and bank failures.
“This bank failure indicates that additional failures will occur, and will range between smaller community banks and larger banks,” said Joseph when the news of Republic First’s seizure was first reported.
Market Watch reporter Steve Gelsi talked to Jospeh in more detail about Fulton Financial being on the list to buy Republic First Bank. Read more about the development and what Joseph had to say on Market Watch. (A subscription is required)
American Banker reporter John Reosti also interviewed Joseph about the seizure - along with what could potentially come for other financial institutions this year following Republic First’s seizure. Read the American Banker article for more insight. (A subscription is required)
FOX Business used Joseph's expertise as well, citing him as the expert that predicts Republic First seizure will signal more bank failures to come. Watch FOX Business’ report and learn more about what Joesph said.