PHILADELPHIA, Feb. 7, 2011 /PRNewswire/ -- Republic Bank
(Nasdaq: FRBK) today announced the launch of a Small Business
Administration ("SBA") lending group to provide much needed credit
to small businesses throughout the Mid-Atlantic states.
(Logo: http://photos.prnewswire.com/prnh/20100707/PH31611LOGO
)
This nationally ranked SBA lending unit will be led by
ARNOLD F. HORVATH (Executive V.P.)
and PAMELA TAURIELLO (Sr. V.P.),
both former Executives with Commerce Bank and more recently Metro
Bank.
Prior to Metro Bank, a majority of this specialized group were
employed by Commerce Bank 1999 through 2009. During this ten
year period, Commerce Bank closed in excess of $1.6 Billion in SBA Loans and consistently ranked
among the nation's TOP 15 producers of SBA loans.
While at Metro Bank (Harrisburg,
PA) this eight person team was ranked #1 in New Jersey, #4 in PA, and #22 nationally among
2,590 banks participating in the SBA program based upon three month
figures released by the SBA through December
31, 2010.
Andrew J. Logue, President and
COO of Republic Bank commented:
"The small businesses of America are crying for credit support.
The SBA Loan Guarantee Program gives Republic Bank, with its recent
approval from the SBA as a Preferred Lender, a unique opportunity
to fulfill these credit needs while maintaining robust asset
quality. Arnie Horvath and his team
have long been the premier SBA lending group in the Mid-Atlantic
States and we look forward to their continued success."
James Kocsi, recently retired
District Director of the SBA's New
Jersey office commented:
"Arnie Horvath and his team of
business lenders have been responsible for many small business
success stories. During the last ten years, this talented
group of professionals was the top provider of SBA backed loans in
New Jersey. They supported
small businesses with creative financing packages, provided quick
turnarounds on approvals and realistic advice to their customers.
We also valued their sustained commitment and support of our
community marketing efforts."
About Republic Bank
Republic Bank is a full-service, state-chartered commercial
bank, whose deposits are insured up to the applicable limits by the
Federal Deposit Insurance Corporation (FDIC). The Bank provides
diversified financial products through its thirteen offices located
in Abington, Ardmore, Bala
Cynwyd, Plymouth Meeting,
Media and Philadelphia, Pennsylvania and Voorhees and Haddonfield, New Jersey.
Forward Looking Statements
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. The forward-looking statements contained
herein are subject to certain risks and uncertainties that could
cause actual results to differ materially from those projected in
the forward-looking statements. For example, risks and
uncertainties can arise with changes in: general economic
conditions, including their impact on capital expenditures; new
service and product offerings by competitors and price pressures;
and similar items. You should carefully review the risk
factors described in the Form 10-Q for the quarter ended
March 31, 2010 and other documents
the Company files from time to time with the Securities and
Exchange Commission. The words "may", "believes," "expect,"
"estimate," "project," "anticipate," "should," "intend,"
"probability," "risk," "target," "objective," and similar
expressions or variations on such 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 U.S. 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, except as may be required by
applicable law or regulations.
SOURCE Republic Bank