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Republic First Bancorp Inc (FRBK) SEC Filing 10-Q Quarterly report for the period ending Friday, June 30, 2017

Republic First Bancorp Inc

CIK: 834285 Ticker: FRBK

 

 
News Release
Republic First Bancorp, Inc.
July 20, 2017
 
 
 
 
 
REPUBLIC FIRST BANCORP, INC. REPORTS SECOND QUARTER FINANCIAL RESULTS
NET INCOME INCREASES 101% - ASSETS GROW 29% - TWO NEW STORES OPEN

Philadelphia, PA, July 20, 2017 (PR Newswire) – Republic First Bancorp, Inc. (NASDAQ: FRBK), the holding company for Republic Bank, today announced its financial results for the period ended June 30, 2017.

   
Three Months Ended
 
($ in millions, except per share data)
 
06/30/17
   
06/30/16
   
% Change
 
                   
Assets
 
$
2,043.5
   
$
1,581.6
     
29
%
Loans
   
1,066.5
     
929.8
     
15
%
Deposits
   
1,732.4
     
1,434.3
     
21
%
Total Revenue
 
$
22.3
   
$
16.2
     
37
%
Net Income
   
2.1
     
1.0
     
101
%
Net Income per Share
 
$
0.04
   
$
0.03
     
33
%


Vernon W. Hill, II, Chairman of Republic First Bancorp said:

 "The Power of Red is Back expansion campaign continues to deliver strong results. Our ability to offer an exceptional in-store experience combined with terrific on-line and mobile banking options is creating new fans throughout our footprint, driving strong growth in assets, loans and deposits. In addition, we continue to improve profitability on a consistent basis despite the significant investments required to proceed with our growth strategy."


Harry D. Madonna, President and Chief Executive Officer of Republic First Bancorp added:

 "Our growth and expansion plan continues to produce tremendous results. The recent grand openings in Cherry Hill and Sicklerville were met with overwhelming acceptance from new FANS in those communities. With additional sites in Medford, NJ and Fairless Hills, PA scheduled to open in the coming weeks the momentum behind our strategy continues to build. The results are a testament to the strength of our model and the unmatched commitment to customer service by every member of the Republic Bank Team."
 

The following information was filed by Republic First Bancorp Inc (FRBK) on Friday, July 21, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Republic First Bancorp Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2017 10-K Annual Report includes:

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  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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Inside Republic First Bancorp Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Note 10 - Goodwill And Other Intangibles
Consolidated Balance Sheets (current Period Unaudited)
Consolidated Balance Sheets (current Period Unaudited) (parentheticals)
Consolidated Statements Of Cash Flows (unaudited)
Consolidated Statements Of Changes In Shareholders' Equity (unaudited)
Consolidated Statements Of Changes In Shareholders' Equity (unaudited) (parentheticals)
Consolidated Statements Of Comprehensive Income (unaudited)
Consolidated Statements Of Comprehensive Income (unaudited) (parentheticals)
Consolidated Statements Of Income (unaudited)
Note 1 - Basis Of Presentation
Note 1 - Basis Of Presentation (details Textual)
Note 10 - Goodwill And Other Intangibles (tables)
Note 10 - Goodwill And Other Intangibles - Summary Of Goodwill And Other Intangibles (details)
Note 11 - Derivatives And Risk Management Activities
Note 11 - Derivatives And Risk Management Activities (details Textual)
Note 11 - Derivatives And Risk Management Activities (tables)
Note 11 - Derivatives And Risk Management Activities - Amounts Recorded In Statement To Financial Condition (details)
Note 11 - Derivatives And Risk Management Activities - Derivative Instrument Gain (loss) Recorded In Statement Of Income (details)
Note 2 - Summary Of Significant Accounting Policies
Note 2 - Summary Of Significant Accounting Policies (details Textual)
Note 2 - Summary Of Significant Accounting Policies (tables)
Note 2 - Summary Of Significant Accounting Policies - Anti-dilutive Securities (details)
Note 2 - Summary Of Significant Accounting Policies - Calculation Of Eps (details)
Note 2 - Summary Of Significant Accounting Policies - Stock-based Compensation (details)
Note 2 - Summary Of Significant Accounting Policies - Valuation Assumptions (details)
Note 3 - Legal Proceedings
Note 4 - Segment Reporting
Note 4 - Segment Reporting (details Textual)
Note 5 - Investment Securities
Note 5 - Investment Securities (details Textual)
Note 5 - Investment Securities (tables)
Note 5 - Investment Securities - Credit-related Impairment Losses On Securities (details)
Note 5 - Investment Securities - Investment Securities By Contractual Maturity (details)
Note 5 - Investment Securities - Securities In A Continuous Unrealized Loss Position (details)
Note 5 - Investment Securities - Trust Preferred Securities (details)
Note 5 - Investment Securities - Unrealized Gain (loss) On Investments (details)
Note 6 - Loans Receivable And Allowance For Loan Losses
Note 6 - Loans Receivable And Allowance For Loan Losses (details Textual)
Note 6 - Loans Receivable And Allowance For Loan Losses (tables)
Note 6 - Loans Receivable And Allowance For Loan Losses - Loans By Internal Risk Rating (details)
Note 6 - Loans Receivable And Allowance For Loan Losses - Non-accrual Loans (details)
Note 6 - Loans Receivable And Allowance For Loan Losses - Past Due Loans (details)
Note 6 - Loans Receivable And Allowance For Loan Losses - Troubled Debt Restructurings (details)
Note 6 - Loans Receivable And Allowances For Loan Losses - Activity In Allowance For Loan Losses (details)
Note 6 - Loans Receivable And Allowances For Loan Losses - Gross Loans By Major Categories (details)
Note 6 - Loans Receivable And Allowances For Loan Losses - Impaired Loans (details)
Note 6 - Loans Receivable And Allowances For Loan Losses - Impaired Loans Additional Information (details)
Note 7 - Fair Value Of Financial Instruments
Note 7 - Fair Value Of Financial Instruments (details Textual)
Note 7 - Fair Value Of Financial Instruments (tables)
Note 7 - Fair Value Of Financial Instruments - Assets Measured On A Nonrecurring Basis (details)
Note 7 - Fair Value Of Financial Instruments - Assets Measured On A Recurring Basis Using Significant Unobservable Inputs (details)
Note 7 - Fair Value Of Financial Instruments - Disclosure Of Mortgage Held For Sale (details)
Note 7 - Fair Value Of Financial Instruments - Fair Values Of Financial Instruments (details)
Note 7 - Fair Value Of Financial Instruments - Financial Assets Measured At On A Recurring Basis (details)
Note 7 - Fair Value Of Financial Instruments - Quantitative Information About Level 3 Assets (details)
Note 7 - Fair Value Of Financial Instruments - Sba Servicing Assets Activity (details)
Note 7 - Fair Value Of Financial Instruments - Sba Servicing Assets Sensitivity Analysis (details)
Note 8 - Changes In Accumulated Other Comprehensive Loss By Component (1)
Note 8 - Changes In Accumulated Other Comprehensive Loss By Component (1) (tables)
Note 8 - Changes In Accumulated Other Comprehensive Loss By Component (1) - Accumulated Other Comprehensive Loss (details)
Note 9 - Business Combination
Note 9 - Business Combination (details Textual)
Note 9 - Business Combination (tables)
Note 9 - Business Combination - Consideration Paid And Assets Acquired And Liabilities Assumed (details)
Note 9 - Business Combination - Pro Forma Information (details)
Significant Accounting Policies (policies)

Material Contracts, Statements, Certifications & more

Republic First Bancorp Inc provided additional information to their SEC Filing as exhibits

Ticker: FRBK
CIK: 834285
Form Type: 10-Q Quarterly Report
Accession Number: 0000950159-17-000207
Submitted to the SEC: Mon Aug 07 2017 5:21:59 PM EST
Accepted by the SEC: Mon Aug 07 2017
Period: Friday, June 30, 2017
Industry: State Commercial Banks

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