Republic First Bancorp, a Philadelphia-based bank, became the newest casualty in the banking sector after regulators took control of the company. While banks are facing challenges around higher interest rates and profitability, Republic First's collapse appeared to be a one-off event, and not a sign that liquidity issues are widespread.

George Patterson, CIO of PGIM Quantitative Solutions, discusses the management failures that led to Republic First's downfall, the role that regional banks play in the US economy, and why it is crucial for investors to scrutinize fundamentals and management quality for companies across all sectors.