REPUBLIC FIRST BANCORP Stock Price, News & Analysis

Republic First Bancorp (NASDAQ: FRBK) has opened a new all-glass store in Bensalem, PA, marking its third location in Bucks County. This follows recent openings in Fairless Hills and Feasterville. The bank, recognized as America’s #1 Bank for Service by Forbes, aims to expand further in the region. The Bensalem store, which opened on September 12, 2020, is part of the bank's 'Power of Red is Back' growth initiative. Republic Bank offers extended hours and free customer services, ensuring convenience for clients.

Republic First Bancorp (NASDAQ: FRBK) has launched its new tagline, "America’s #1 Bank for Service," based on a national consumer satisfaction survey by Forbes. This initiative aligns with its growth strategy, which includes the expansion of services and operating hours across its 30 locations in Philadelphia, Southern New Jersey, and New York City. The bank emphasizes customer satisfaction by offering free services, extended hours, and convenience, which were highlighted as key differentiators in the survey of nearly 25,000 participants.

Republic First Bancorp, Inc. (NASDAQ: FRBK) has announced the pricing of a $50 million offering of perpetual noncumulative preferred stock Series A. This offering features a 7.0% dividend rate payable quarterly and is convertible into common stock at a price of $3.00 per share. The transaction is expected to close on August 26, 2020, with the proceeds allocated for general corporate purposes. Chairman Vernon W. Hill, II highlighted a 28% increase in deposits and 25% loan growth as key successes, positioning the bank favorably amidst ongoing industry challenges.

Republic First Bancorp (NASDAQ: FRBK) has appointed Daniel Markus as the Regional Vice President for the New York market. Markus, who previously closed $300 million in new loans at Valley National Bank, will focus on enhancing customer relationships and driving growth in loans and deposits. Underlining the bank's service excellence, it was recently recognized as America’s #1 Bank for Service. Republic Bank continues to expand its presence, recently opening two locations in New York City and planning a third for 2021.

Republic First Bancorp, Inc. (FRBK) announced its Q2 2020 financial results, showcasing a net income of $2.5 million, or $0.04 per share, a significant turnaround from a net loss of $0.6 million in Q1 2020. Loan originations under the Paycheck Protection Program (PPP) reached $682 million, supporting small businesses amidst the pandemic. Assets surged 51% year-over-year, totaling $4.4 billion, largely due to PPP loans. Deposits rose by 44% to $3.6 billion. The bank was recognized as America’s #1 Bank for Service by Forbes, highlighting its commitment to customer satisfaction.

Republic First Bancorp, Inc. (NASDAQ: FRBK) is set to announce its financial results for Q2 2020 on July 27, 2020. A conference call will follow at 11:00 AM EST for investors and analysts to discuss these results. The company emphasizes its ongoing commitment to providing diversified financial products through its network of branches in the Greater Philadelphia, Southern New Jersey, and New York areas. Republic Bank is noted for its customer-friendly services, including free checking and extensive ATM access.