Clayton Rulli
Long/short equity, value, momentum, options

Republic First Bancorp Inc.: 64% Growth Led By A Banking Legend

The Backdrop:

Republic First Bancorp Inc. (NASDAQ:FRBK) is just a tiny 166 M market cap bank with just $973 M in assets. In Q1 2014, the bank had just 14 locations, most of which are in Pennsylvania in and around Philadelphia. Q1 2014 results were relatively unimpressive and what else would you expect, it's a bank. However, the situation is improving: Tangible book value per share was 2.50, Core deposits increased by 7% to $869.6 M, total loans increased by 11% to $696.8 M. Loan portfolio was mostly geared towards commercial properties and mortgages, as you'd probably expect:

Increasing deposits and loans look attractive, but the company has also taken big steps to improve its financial situation. From...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
FREESA PRO MEMBERS
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details