FRBK Republic First Bancorp Inc

PHILADELPHIA, Dec. 1 /PRNewswire-FirstCall/ -- Republic First Bancorp Inc. (NASDAQ:FRBK), soon to be renamed Metro Bancorp, today kicked off its new store expansion plan with the announcement of three openings in Southern New Jersey scheduled for Spring 2009. The locations are: -- Cherry Hill: 335 Route 70 East, Cherry Hill -- Haddonfield: 30 Kings Highway East -- Washington Township: Black Horse Pike & Ganttown Rd. Republic First, which last month signed a definitive agreement to merge with Pennsylvania Commerce Bancorp and form Metro Bancorp, also plans to introduce the new "Metro Magic" customer experience across all its markets early in 2009. Metro Bank customers will enjoy: -- 7-day branch banking -- FREE checking without hidden fees -- Banking with no stupid rules -- "Best in Class" products and services -- Smiling, knowledgeable customer service representatives -- State-of-the-art designed stores that will help create the most welcoming and refreshing retail banking experience in America. "At a time when other banks seem to be abandoning the customer, we are thrilled to be bringing the Magic back to the financial services industry," said Harry Madonna, Republic First Chairman and CEO. "The Magic is about turning all our customers into fans. Two of the new locations will be the new Metro Bank prototype store that will feature a nearly all-glass exterior to maximize the flow of natural light inside and allow its impressive interior to be visible from the outside. Customers will enter through a spacious glass-enclosed vestibule." With headquarters in Philadelphia and Harrisburg, Metro Bancorp, the combination of Republic First Bancorp and Pennsylvania Commerce Bancorp, will have a network of 45+ convenient stores in Central Pennsylvania, Metro Philadelphia and Southern New Jersey. The combined company (which will continue to trade on NASDAQ) will have total assets exceeding $3 billion, market capitalization of about $260 million and more than 1,200 team members. The company plans to pursue an aggressive growth strategy with new stores in Central and Southeastern Pennsylvania, Southern New Jersey and other markets. About Republic First Bancorp Republic First Bank is a full-service, state-chartered commercial bank with assets of $1 billion. The bank provides diversified financial products through its 12 offices located in Abington, Ardmore, Bala Cynwyd, Plymouth Meeting, Media and Philadelphia, Pennsylvania; and Voorhees, New Jersey. About Pennsylvania Commerce Bancorp Pennsylvania Commerce Bancorp is a financial services retailer with 33 stores in the counties of Berks, Cumberland, Dauphin, Lancaster, Lebanon and York. Headquartered in Harrisburg, Pennsylvania Commerce has more than $2 billion in assets. Services include seven-day banking, free checking, free instant-issue Visa check card, free interactive coin-counting machines, free online banking and 24/7 bank-by-phone. The bank also offers commercial banking services including term loans, commercial mortgages, lines of credit and cash management services. For more information, visit the bank's web site at commercepc.com. FORWARD LOOKING STATEMENTS This news release contains forward-looking statements about Pennsylvania Commerce Bancorp and Republic First Bancorp and the proposed transaction between the companies. There are several factors -- many beyond the parties' control -- that could cause actual results to differ significantly from expectations described in the forward-looking statements. Among these are the receipt of necessary regulatory approvals and the approval of Pennsylvania Commerce Bancorp and Republic First Bancorp shareholders. Forward-looking statements speak only as of the date they are made and the companies do not undertake any obligation to update them to reflect changes that occur after that date. For a discussion of factors that may cause actual results to differ from expectations, refer to each company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2008 and Annual Report on Form 10-K for the year ended December 31, 2007, including information incorporated into each company's 10-K from their respective 2007 annual reports, filed with the Securities and Exchange Commission (SEC) and available on the SEC's website at http://www.sec.gov/. ADDITIONAL INFORMATION ABOUT THE SUBJECT TRANSACTION Pennsylvania Commerce Bancorp and Republic First Bancorp will be filing with the SEC a joint proxy statement/prospectus and other relevant documents concerning the merger. Investors will also be able to obtain these documents free of charge at the SEC's website. THE COMPANIES URGE INVESTORS TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER DOCUMENTS TO BE FILED WITH THE SEC IN CONNECTION WITH THE MERGER OR INCORPORATED BY REFERENCE IN THE JOINT PROXY STATEMENT/PROSPECTUS BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. The directors, executive officers and certain other members of management and employees of both Pennsylvania Commerce Bancorp and Republic First Bancorp may be deemed to be participants in the solicitation of proxies in favor of the merger from the shareholders of their respective companies. Information about the directors and executive officers of Pennsylvania Commerce Bancorp is included in the proxy statement for its 2008 annual meeting of shareholders which was filed with the SEC on April 23, 2008. Information about the directors and executive officers of Republic First Bancorp is included in the proxy statement for its 2008 annual meeting of shareholders which was filed with the SEC on March 11, 2008, and the current report on Form 8-K filed with the SEC on July 23, 2008. Additional information regarding the participants and their interests will be included in the joint proxy statement/prospectus and the other relevant documents filed with the SEC when they become available. DATASOURCE: Republic First Bancorp Inc. CONTACT: Kevin J. Barry, SVP of Republic First Bancorp Inc., +1-215-430-5416,

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