Republic First Bancorp, Inc. Announces the Election of Andrew B. Cohen as Independent Chairman of the Board of Directors
30 Maggio 2023 - 10:00PM
Business Wire
Thanks Founder Harry D. Madonna for Recent
Service as Chairman and Continued Dedication to the Bank’s
Customers, Employees, Community Partners and Shareholders
Republic First Bancorp, Inc. (NASDAQ: FRBK) (“Republic” or the
“Company”), the parent company of Republic First Bank d/b/a
Republic Bank (the “Bank”), today announced that Andrew B. Cohen
has been elected independent Chairman of the Company’s Board of
Directors (the “Board”), effective June 1, 2023. Mr. Cohen is the
Chief Investment Officer and Co-Founder of Cohen Private Ventures
LLC, a long-term shareholder of Republic. He joined the Board in
2017.
Mr. Cohen possesses strong capital markets acumen, corporate
governance experience, and institutional knowledge of Republic and
the broader banking sector. In addition, he brings the perspectives
of a sizable shareholder to the chairmanship. The Board determined
that Mr. Cohen was the right independent director to assume the
chairmanship as Republic navigates a once-in-a-generation sector
dislocation, strengthens its governance and takes strategic actions
to transform the Bank.
With the election of Mr. Cohen, Harry D. Madonna has stepped
down as Chairman. Mr. Madonna, who founded Republic in 1988 and led
the organization to many years of growth, will continue to serve as
a director. The Board wants to take the opportunity to thank Mr.
Madonna for his years of leadership and ongoing service to the
Company’s customers, employees, community partners and
shareholders.
To learn more about the strategic actions that Republic has been
taking, visit the Company’s newsroom.
About Republic Bank
Republic Bank is the operating name for Republic First Bank.
Republic First Bank is a full-service, state-chartered commercial
bank, whose deposits are insured up to the applicable limits by the
Federal Deposit Insurance Corporation (FDIC). The Bank provides
diversified financial products through its 34 offices located in
Atlantic, Burlington, Camden, and Gloucester Counties in New
Jersey; Bucks, Delaware, Montgomery and Philadelphia Counties in
Pennsylvania and New York County in New York. For more information
about Republic Bank, please visit 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 press release.
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 (the “SEC”).
Important Additional Information
The Company intends to file a definitive proxy statement and may
file a WHITE proxy card with the SEC in connection with the
Company’s 2022 annual meeting of shareholders (the “2022 Annual
Meeting”) and, in connection therewith, the Company, certain of its
directors and executive officers will be participants in the
solicitation of proxies from the Company’s shareholders in
connection with such meeting. SHAREHOLDERS OF THE COMPANY ARE
STRONGLY ENCOURAGED TO READ SUCH PROXY STATEMENT, ACCOMPANYING
WHITE PROXY CARD AND ALL OTHER DOCUMENTS FILED WITH THE SEC
CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY
WILL CONTAIN IMPORTANT INFORMATION ABOUT THE 2022 ANNUAL MEETING.
The Company’s definitive proxy statement for the 2021 annual
meeting of shareholders contains information regarding the direct
and indirect interests, by security holdings or otherwise, of the
Company’s directors and executive officers in the Company’s
securities. Information regarding subsequent changes to their
holdings of the Company’s securities can be found in the SEC
filings on Forms 3, 4, and 5, which are available on the Company’s
website at http://investors.myrepublicbank.com or through the SEC’s
website at www.sec.gov. Information can also be found in the
Company’s Annual Report on Form 10-K for the year ended December
31, 2021 on file with the SEC. Updated information regarding the
identity of potential participants, and their direct or indirect
interests, by security holdings or otherwise, will be set forth in
the definitive proxy statement and other materials to be filed with
the SEC in connection with the 2022 Annual Meeting. Shareholders
will be able to obtain the definitive proxy statement, any
amendments or supplements to the proxy statement and other
documents filed by the Company with the SEC at no charge at the
SEC’s website at www.sec.gov. Copies will also be available at no
charge at the Company’s website at
http://investors.myrepublicbank.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230530005658/en/
Longacre Square Partners Greg Marose / Joe Germani,
646-386-0091 frbk@longacresquare.com
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