Shares jump 8.7% premarket (Il Sole 24 Ore Radiocor) - New York, 29 Apr - Shares in Pennsylvania-based financial holding company Fulton Financial Corporation surged premarket after it announced it had started an underwritten public offering of shares to support its acquisition of the deposits and assets of Republic First Bank from regulators.

At 1256 GMT Fulton shares were up 8.7%.

On Friday Fulton Financial said its bank subsidiary, Fulton Bank, had acquired substantially all of the assets and assumed substantially all of the deposits of Republic First Bank from the Federal Deposit Insurance Corporation.

US regional banks have been struggling to hang on to deposits as customers look for safety in larger lenders at a time when higher interest rates have undermined loan books.

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(RADIOCOR) 29-04-24 15:04:03 (0413) 5 NNNN