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Republic First Bancorp (FRBK) delivers community-focused banking services combining large-scale capabilities with localized decision-making. This news hub provides investors and stakeholders with timely updates on the Philadelphia-based institution's strategic developments and market position.
Access verified press releases, financial disclosures, and operational announcements in one centralized location. Track key updates including quarterly earnings, leadership changes, branch expansions, and customer service innovations that reflect FRBK's commitment to retail banking excellence.
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Republic First Bancorp (NASDAQ: FRBK) reported a significant financial turnaround for the nine-month period ending September 30, 2021, with net income rising to $19.1 million ($0.25 per diluted share) from $1.0 million ($0.02 per share) in the same period last year. Total revenue surged 30% year over year, driven by strong deposit growth of 27% to $5.0 billion. The bank’s cost of funds improved to 0.36%. Despite a reduction in total loans by 5%, excluding PPP loans led to a 15% increase in core loans. Asset quality is solid, with non-performing assets at just 0.25% of total assets.
Republic First Bancorp, Inc. (NASDAQ: FRBK) will release its financial results for Q3 2021 on October 27, 2021. A conference call will take place at 11:00 am (EDT) on the same day to discuss these results.
The company operates Republic Bank, a state-chartered full-service commercial bank with 32 locations in the Greater Philadelphia and New York areas. Their offerings include free checking and a wide range of mortgage products.
Republic First Bancorp (NASDAQ: FRBK) has appointed Peter Musumeci as Market President for Metro New York, overseeing New York City, Long Island, Westchester County, and Northern New Jersey. Musumeci previously served as Chief Credit Officer at Commerce Bancorp and has been a consultant for Republic Bank. The bank, which currently operates two stores in Manhattan, plans further expansion in the area. Chairman Vernon W. Hill II emphasized Musumeci's significant role in the bank's success in Metro New York.
On August 25, 2021, Republic First Bancorp, Inc. (NASDAQ: FRBK) appointed Steve McWilliams as Market President for Metro Philadelphia, encompassing South New Jersey and Delaware. McWilliams, previously the Senior Lender at Republic Bank for five years, is expected to enhance the bank's local operations.
Chairman and CEO Vernon W. Hill, II praised McWilliams' qualifications, stating he can effectively implement their 'Power of Red' model. Republic Bank operates 32 offices across New Jersey, Pennsylvania, and New York, offering a range of financial services.
Republic First Bancorp (NASDAQ: FRBK) reported strong financial results for Q2 2021. Net income surged by 578% year-over-year to $13.0 million or $0.17 per diluted share, with total revenue rising 38% to $80.0 million. Deposits increased by 25% to $4.6 billion, aided by the 'Power of Red is Back' expansion strategy. Excluding PPP loans, total loans grew by 13% to $2.1 billion. Non-performing assets improved, reducing to 0.26% of total assets.
Republic First Bancorp (FRBK) announced it will disclose its financial results for Q2 2021 on July 23, 2021. A conference call for analysts and investors is scheduled for the same day at 11:00 AM EDT, where the results will be reviewed. This provides an opportunity for stakeholders to gain insights into the company's performance and strategic direction. Republic Bank operates 32 branches across Greater Philadelphia, Southern New Jersey, and New York, offering a variety of financial services and products.
Republic First Bancorp (NASDAQ: FRBK) continues its community support through Chairman and CEO Vernon W. Hill II's recent visit to LEAP Academy University Charter School. Hill shared insights from his career in banking, emphasizing service and branding. He encourages students to explore entrepreneurship, reflecting the bank's commitment to grassroots initiatives. Republic Bank, recognized as America’s #1 Bank for Service by Forbes in 2020, actively expands its operations with 32 stores, offering unique services to enhance customer experience, including free checking and access to over 55,000 ATMs worldwide.
Republic First Bancorp (NASDAQ: FRBK) announces the grand opening of its new store in Deptford, NJ, enhancing its presence in Gloucester and Atlantic counties. This store is the bank's fifth in the region, with plans for a sixth location in Ocean City. The bank aims to improve customer service, having been named America's #1 Bank for Service in 2020. The new facility features a modern design and extended hours, emphasizing customer experience and convenience. Republic Bank continues to expand its footprint as part of its growth strategy, focusing on service excellence.
Republic First Bancorp (NASDAQ: FRBK) reported a strong Q1 2021, with net income soaring 72% to $7.1 million, or $0.09 per share, compared to the previous quarter. The surge in earnings was fueled by a remarkable 53% rise in total revenue, driven by a significant increase in deposits, which grew by 48% year-over-year to $4.4 billion. Total loans increased 44% to $2.7 billion, with substantial contributions from the Paycheck Protection Program. The bank's asset quality remains robust, with non-performing assets at just 0.27% of total assets, further highlighting effective risk management.
Republic First Bancorp (NASDAQ: FRBK) announced an earnings release date for Q1 2021 on April 22, 2021, followed by a conference call at 11:00 AM EDT. The call will provide insights into the company's financial performance and future outlook. Republic Bank operates as a commercial bank with a network of 31 locations across Greater Philadelphia, Southern New Jersey, and New York, offering various financial products including free checking and mortgage services. The bank is FDIC insured, ensuring the safety of customer deposits.
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