Consumer banking

Republic First in Pa. to Open Third N.J. Branch

By Chris Cumming May 16, 2013, 3:11 p.m. EDT 1 Min Read

Community banking

Republic First in Philadelphia Sheds Problem Assets

Shares of Republic First Bancorp Inc. soared Wednesday after the Philadelphia company announced that it had sold $59 million of mostly problem real estate loans to a single investor.

By Alan Kline

December 21

Republic First Bancorp (FRBK) in Philadelphia is continuing its push into southern New Jersey.

The $985 million-asset company said Thursday that it has received regulatory approval to open its third location in the state in the city of Cherry Hill. In addition, Republic First is moving its branch in Voorhees Township to a new location, it said. The new branch and location are both expected to open in the fall.

South Jersey will be Republic First's "primary market for new stores," Chairman and Chief Executive Harry Madonna said in a news release. The company, which is the parent of Republic Bank, currently has 12 branches in Pennsylvania, along with its two in New Jersey.

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