Clayton Rulli • Nov. 14, 2014
Republic First Bancorp's Expansion Plans Are Fully Underway And Already Showing ResultsClayton Rulli • Nov. 14, 2014
- 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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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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