FRBK Republic First Bancorp Inc

PHILADELPHIA, April 24 /PRNewswire-FirstCall/ -- Republic First Bancorp, Inc. (NASDAQ:FRBK) (the "Company"), the holding company for Republic First Bank, announced a 10% stock dividend to shareholders of record as of May 5, 2006 payable as of May 17, 2006. 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 $66.9 million with a book value per share of $7.76 at March 31, 2006, based on outstanding common shares of approximately 8.6 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, Republic First Bancorp, +1-215-735-4422 ext. 5255

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