PHILADELPHIA, Nov. 8, 2011 /PRNewswire/ -- Republic Bank
(NASDAQ: FRBK) today announced the results of the outstanding
efforts of its SBA team for the fiscal year ending 9/30/11. The SBA
team is based in Pennington, New
Jersey, and is led by Arnie
Horvath, Executive Vice President.
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From the New Jersey District,
Republic Bank's SBA team will receive the District Director's Award
for the #1 SBA lender in total dollars, with more than $72 million. In addition, for generating 62 SBA
loans in New Jersey, the team will
receive the Silver Award. These loans have helped to create or
retain many jobs and have had a very positive impact on the economy
of New Jersey.
The Republic Bank SBA team is also ranked 28th in the nation,
among the 2,950 banks participating in the government guaranteed
program, with over $96 million in
loan approvals. In the Philadelphia district, the SBA team is ranked
#8 as a result of receiving approvals on 14 loans for over
$17 million.
Andrew Logue, President and COO
of Republic Bank stated, "We are very proud of the accomplishments
of our SBA team and the significant impact they have had on the
Small Business community. Arnie and his team have done a phenomenal
job providing Small Businesses with the opportunities for credit
they deserve."
About Republic Bank
Republic Bank, a subsidiary of Republic First Bancorp, Inc., 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. For more information
about Republic Bank, visit myrepublicbank.com.
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-K for the year ended December 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