Citibank (Delaware), a subsidiary of Citicorp, won...
- Share via
Citibank (Delaware), a subsidiary of Citicorp, won the bid for the credit card subsidiary of the former First RepublicBank Corp., beating out NCNB Corp. of Charlotte, N.C. which acquired the failed bank in July. The Federal Deposit Insurance Corp. said Citibank will pay a premium of $158.95 million, or about 25%, for about $623 million in credit card receivables of Delaware Bridge Bank National Assn. FDIC said the deal is expected to be completed in about three weeks after regulatory approvals are obtained.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
