Republic First Bancorp, Inc. Receives Notice of Additional Filing Delinquency From Nasdaq
November 18 2022 - 5:15PM
Republic First Bancorp, Inc. (NASDAQ: FRBK) (the “Company”), the
holding company for Republic First Bank d/b/a Republic Bank,
announced that on November 14, 2022, the Company received
written notification that, because the Company has not yet filed
its Quarterly Report on Form 10-Q for the quarterly period ended
September 30, 2022 with the Securities and Exchange Commission
(the “Commission”), the Company does not comply with the
continued listing requirements under Nasdaq Listing Rule 5250(c)(1)
(the “Rule”), which requires Nasdaq-listed companies to timely file
all periodic reports with the Commission.
As reported by the Company in its Current Report
on Form 8-K, filed with the Commission on November 10, 2022, the
Company received formal notice from Nasdaq that a Nasdaq Hearings
Panel (the “Panel”) had granted the Company’s request for an
extension until December 30, 2022 to file its delinquent Quarterly
Reports on Form 10-Q with the Commission, with specified deadlines
for each of the delinquent reports. On October 26, 2022, the
Company filed its Annual Report on Form 10-K for the fiscal year
ended December 31, 2021 with the Commission. Additionally, on
November 18, 2022, the Company filed its Quarterly Report on Form
10-Q for the three months ended March 31, 2022 with the Commission.
The Company continues to take steps to evidence compliance with the
Rule within the timeframe required by the Panel.
The Company intends to submit its remaining
delinquent Quarterly Reports on Form 10-Q with the Commission as
soon as practicable and within the timeframes required by the
Panel.
About Republic First Bancorp,
Inc.
Republic First Bancorp, Inc. is the holding
company for Republic First Bank, which does business under the name
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. The Bank
provides diversified financial products through its thirty-four
stores located in Greater Philadelphia, Southern New Jersey, and
New York City. Republic Bank stores have extended lobby and
drive-thru hours providing customers with some of the most
convenient hours compared to any bank in its market. The Bank
offers free checking, coin counting, ATM/debit cards issued on the
spot and access to more than 55,000 surcharge free ATMs worldwide
via the Allpoint Network. The Bank also offers a wide range of
residential mortgage products through its mortgage division, which
does business under the name of Oak Mortgage Company. For more
information about Republic Bank, visit
www.myrepublicbank.com.
Forward Looking Statements
This press release, and oral statements made
regarding the subjects of this release, contains “forward-looking
statements” within the meaning of the Securities Litigation Reform
Act of 1995, or the Reform Act, which may include, but are not
limited to, statements regarding the Company’s estimates, plans,
objectives, expectations and intentions and other statements
contained in this press release that are not historical facts,
including statements identified by words such as “believe,” “plan,”
“seek,” “expect,” “intend,” “estimate,” “anticipate,” “will,” and
similar expressions. All statements addressing the Company’s
ability to regain compliance with the Nasdaq listing requirements
and future operating results are forward-looking statements within
the meaning of the Reform Act. The forward-looking statements are
based on management’s current views and assumptions regarding
future events and operating performance, and are inherently subject
to significant uncertainties and contingencies and changes in
circumstances, many of which are beyond the Company’s control. The
statements in this press release are made as of the date of this
press release, even if subsequently made available by the Company
on its website or otherwise. The Company does not undertake any
obligation to update or revise these statements to reflect events
or circumstances occurring after the date of this Current Report on
Form 8-K. You should carefully review the risk factors described in
the Form 10-K for the year ended December 31, 2021 and other
documents the Company files from time to time with the Securities
and Exchange Commission.
Source: |
Republic First Bancorp, Inc. |
|
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Contact: |
Jonathan Hill, Interim
CFO |
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(215) 430-5464 |
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