Republic First Bancorp, Inc. Announces 12% Stock Dividend
May 17 2005 - 11:27AM
PR Newswire (US)
Republic First Bancorp, Inc. Announces 12% Stock Dividend
PHILADELPHIA, May 17 /PRNewswire-FirstCall/ -- Republic First
Bancorp, Inc. (NASDAQ:FRBK), (the "Company") the holding company
for Republic First Bank announced a 12% stock dividend to
shareholders of record as of May 23, 2005 payable as of June 7,
2005. Share and per share information has not been restated for
this dividend. Chairman Harry Madonna stated, "This stock dividend
reflects continuing improvements in earnings and other measures of
financial performance, and the sustained double-digit growth in
core businesses. We will continue to focus on our carefully
selected niche lines of business, each of which continues to meet
or exceed our current year's budget projections. We look forward to
making continued progress, and further increasing shareholder
value." Total shareholders' equity stood at $55.8 million with a
book value per share of $7.72 at March 31, 2005, based on
outstanding common shares of approximately 7.2 million. As of that
date, the Company continued to be well capitalized. Republic First
Bank is a full-service, state-chartered commercial bank, whose
deposits are insured by the Federal Deposit Insurance Corporation
(FDIC). The Bank provides diversified financial products through
its eleven offices located in Abington, Ardmore, Bala Cynwyd, East
Norriton, Media, and Philadelphia, Pennsylvania. The Company may
from time to time make written or oral "forward-looking
statements," including statements contained in the Company's
filings with the Securities and Exchange Commission. These
forward-looking statements include statements with respect to the
Company's beliefs, plans, objectives, goals, expectations,
anticipations, estimates, and intentions that are subject to
significant risks and uncertainties and are subject to change based
on various factors, many of which are beyond the Company's control.
The words "may," "could," "should," "would," "believe,"
"anticipate," "estimate," "expect," "intend," "plan," and similar
expressions are intended to identify forward- looking statements.
All such statements are made in good faith by the Company pursuant
to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. The Company does not undertake to
update any forward- looking statement, whether written or oral,
that may be made from time to time by or on behalf of the Company.
DATASOURCE: Republic First Bancorp, Inc. CONTACT: Paul Frenkiel,
CFO of Republic First Bancorp, +1-215-735-4422, ext. 5255
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