Republic First's $35 Million Cash-Injection Deal Is Terminated [BNN Bloomberg (Canada)]
Republic First Bancorp, Inc. (FRBK)
Last republic first bancorp, inc. earnings: 4/29 08:00 am
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investors.myrepublicbank.com
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Source: BNN Bloomberg
Investors George E. Norcross III, Gregory B. Braca, Philip A. Norcross, Alessandra T. Norcross and Alexander S. Norcross decided on Wednesday to terminate the agreement announced in October, Philadelphia-based Republic First said in a regulatory filing. “Our strategic plan has been designed to be executed even without the investment announced last fall,” the bank said in the filing. “We have continued to maintain the bank's adequately capitalized position, and believe we have a strong deposit base and ample liquidity.” The bank's shares slumped 34% at 1:13 p.m. in New York. They've declined 99% in the past year, leaving the company's market capitalization at $1.4 million. With about $6 billion in assets, Republic First has been struggling with similar issues as other regional banks: high interest rates that have translated into unrealized losses on loans and securities. Before the agreement was reached with the Norcross-Braca investor group, the Federal Deposit Insurance Corp
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News
- Regulators Seize Republic First, a Troubled Philadelphia Bank [The New York Times]The New York Times
- Republic First Bank Seized By Regulators—First Bank Collapse Of 2024 [Forbes]Forbes
- Republic First Bancorp, Inc. (NASDAQ: FRBK) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Republic First Bancorp, Inc. (NASDAQ: FRBK) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Republic First Bancorp, Inc. (NASDAQ: FRBK) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
FRBK
Sec Filings
- 3/1/24 - Form SC
- 2/29/24 - Form 8-K
- 2/28/24 - Form SC
- FRBK's page on the SEC website