Clayton Rulli • Fri, Nov. 14
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Republic First Bancorp's Expansion Plans Are Fully Underway And Already Showing ResultsClayton Rulli • Fri, Nov. 14
- Republic First Bancorp Inc. is following through on plans to increase store count by 64%.
- Q3 2014 results showed intense growth that outpaced TD Bank, a competitor in the same region.
- Recent results blew the doors off, as loans, deposits, assets, and tangible book value/share all experienced double-digit growth year over year.
Republic First Bancorp Inc.: 64% Growth Led By A Banking Legend
- Republic First Bancorp is all that's remaining of TD's acquisition of Commerce and has been floundering ever since the financial crisis.
- Vernon Hill, a banking genius with a history of success, is backing FRBK with 10% ownership.
- Vernon Hill's former team from Commerce Bank is leading expansion plans which seek to mirror Hill's proven philosophies used in prior successful ventures, Commerce Bank and UK's Metro Bank.
- FRBK recently raised $45 M to fund a New Jersey expansion of about 9 stores, a strategy that will increase store count and thus deposit base by 64%.
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- Liquidity is becoming an issue at many community and regional banks, says Sterne Agee's Matthew Kelley, noting growing loan-to-deposit ratios. Bank runs are not the worry, but keeping loan pipelines well funded is, and a number of smaller players could be acquisition targets for lenders looking to boost deposits.
- Kelley's list of 12 possibilities in the Northeast: Westfield Financial (WFD +0.1%), Century Bancorp (CNBKA -0.9%), Hudson Valley Holding (HVB +0.1%), Republic First (FRBK +1%), Metro Bancorp (METR +0.4%), Suffolk Bancorp (SUBK +3.3%), Citizens and Northern (CZNC +0.3%), Sun Bancorp (SNBC), First Niagara (FNFG +1.7%), Orrstown Financial (ORRF +0.4%), Camden National (CAC +0.5%), Cambridge Bancorp (CATC +0.2%).
- Under pressure to raise deposits? Susquehanna Bancshares (SUSQ -0.6%) - whose loan-to-deposit ratio rose to 105.5% in Q4 from 102.5% a year earlier. Investors Bancorp (ISBC) with a ratio of 120%, New York Community Bancorp (NYCB), Astoria Financial (AF +0.8%), and People's United (PBCT +0.2%).
Oct. 18, 2013, 4:25 PM
FRBK vs. ETF Alternatives
Republic First Bancorp Inc, through its subsidiary offers commercial & consumer banking services to individuals, small and medium-sized businesses, executives, professionals and professional organizations.
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