Republic First Bancorp Shareholders Approve Proposal to Merge with Pennsylvania Commerce Bancorp
March 19 2009 - 8:52AM
PR Newswire (US)
PHILADELPHIA, March 19 /PRNewswire-FirstCall/ -- Republic First
Bancorp Inc. (NASDAQ:FRBK), holding company of Republic First Bank,
announced today that its shareholders, at a special meeting held on
March 18, 2009, approved the proposal for Republic First Bancorp to
merge with Pennsylvania Commerce Bancorp Inc. The merger remains
subject to approval of Pennsylvania Commerce's shareholders,
regulatory approvals and other customary closing conditions. Once
the merger is completed, Pennsylvania Commerce Bancorp and Republic
First Bancorp will combine to form Metro Bancorp Inc. With
headquarters in Harrisburg and Philadelphia, Metro Bancorp will
have a network of 45+ convenient stores and pursue aggressive
growth in Metro Philadelphia, Southern New Jersey and Central
Pennsylvania. 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 -- Friendly,
knowledgeable customer service representatives "This is an exciting
moment for Republic First shareholders, employees and customers,"
said Republic First Bancorp Founder, Chairman and CEO Harry D.
Madonna. "Metro Bank is coming soon and it is going to change the
banking landscape in Philadelphia, South Jersey and beyond. We are
preparing to launch America's Next Great Bank." Republic First Bank
(PA) 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 twelve offices located in Abington, Ardmore, Bala Cynwyd,
Plymouth Meeting, Media and Philadelphia, Pennsylvania and
Voorhees, New Jersey. The Company may from time to time make
written or oral "forward-looking statements," including statements
contained in this release and 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: Kevin J. Barry of Republic First Bancorp
Inc., +1-215-430-5416,
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