PHILADELPHIA, Nov. 18, 2013 /PRNewswire/ -- Republic First
Bancorp, Inc. (NASDAQ: FRBK), the holding company for Republic
Bank, today announced that for FY2013 (Ending September 30, 2013), its Small Business
Administration (SBA) Lending Group had 12 month production of
$136,522,100, which improved its
national ranking to 18th among 3,000 participating banks
nationwide. Further, Republic Bank is again ranked
number one for SBA lending within its tri-state footprint of
Pennsylvania, New Jersey and Delaware.
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"Led by Executive Vice President Arnold
Horvath, we have the premiere SBA Lending Team in the
tri-state area, which not only delivers year-over-year growth for
Republic but understands that SBA loan approval doesn't need to
take all day," said Harry Madonna,
Chairman and Chief Executive Officer of Republic Bank. "We
are proud of our national SBA ranking, which has risen every year
since 2011, and our continued top ranking in the Mid-Atlantic
region."
Andrew Logue, President and Chief
Operating Officer for Republic Bank, also commented.
"Outstanding business plans not only deserve funding but a banking
partner that can deliver that funding creatively and quickly.
The loans we have given in Pennsylvania, New
Jersey and Delaware have
helped to create jobs, stimulate commerce and spur our region's
economic recovery. To be recognized as 'Top 20' in the nation
and number one in our footprint validates our strategic approach to
SBA lending and more, all of the community businesses we have given
loans."
For more information about Republic Bank visit
www.myrepublicbank.com.
About Republic Bank
Republic Bank is the operating name for Republic First Bank.
Republic First 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
Republic First Bancorp, Inc. ("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.
These factors include competition, timing, credit risks of lending
activities, changes in general economic conditions, price pressures
on loan and deposit products, and other factors detailed from time
to time in the Company's filings with the Securities and Exchange
Commission. 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, except as may be required by applicable law or
regulations.
SOURCE Republic Bank