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PHILADELPHIA, July 03, 2019 (GLOBE NEWSWIRE) -- Republic First Bancorp, Inc. (NASDAQ: FRBK), the parent company of Republic Bank, will open its first store in New York City on July 12 with a festive two-day celebration. The beautiful new store is located at 14th Street and 5th Avenue, the same location where an incredibly popular Commerce Bank once stood prior to being abandoned by TD Bank. Republic Bank is now bringing back the legendary banking experience that New Yorkers have missed for years, including providing the only absolutely free coin counting machines in all of New York, with a fun-filled Grand Opening that will welcome customers – and their pets – with music, live entertainment and gifts.
Republic Bank’s expansion plan, referred to as “The Power of Red is Back,” is led by Chairman Vernon W. Hill, II, who founded Commerce Bank in 1973 and is often credited with reinventing American banking. At a time when most banks are shuttering stores and retreating from the communities they serve, Republic Bank’s growth and customer-centric philosophy are providing customers with an unmatched banking experience across every channel, whether in-store, online or via mobile.
“Our incredible growth proves the strength of the Republic model,” said Hill. “We look forward to providing New York customers with unrivaled convenience and our legendary customer service. The Power of Red is Back and this is only the beginning of our rapid expansion throughout New York City.”
By embracing the same commitment to extraordinary customer service, refined for the digital age, Republic Bank will build upon the success Hill enjoyed in New York with Commerce Bank. The Republic Bank model is already resonating strongly in each community it serves, with new stores growing at four times the industry average. Equally important, Republic Bank is a leader in small business lending, ranking as one of the top three SBA lenders in the tri-state area for the last five years.
As part of Republic Bank’s continued expansion throughout New York, the store will soon be followed by a second location opening later this year at 51st Street and 3rd Avenue with many more stores planned for the near future.
Republic Bank’s 27 convenient stores are open seven days a week, 361 days a year, with extended lobby and drive-thru hours, providing customers with the longest hours of any bank in the area. The bank also offers absolutely free checking, free coin counting, ATM/Debit cards and credit cards issued on the spot and access to more than 55,000 surcharge free ATMs worldwide via the Allpoint network.
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 27 offices located in Atlantic, Burlington, Camden, and Gloucester Counties in New Jersey and Bucks, Delaware, Montgomery and Philadelphia Counties in Pennsylvania. The bank also offers a wide range of residential mortgage products through its mortgage division, Oak Mortgage Company. For more information about Republic Bank, please visit www.myrepublicbank.com.
Forward Looking Statements
Republic First Bancorp, Inc. ("the Company") may from time to time make written or oral "forward-looking statements", including statements contained in this release and in the Company's filings with the Securities and Exchange Commission. These forward-looking statements include statements with respect to the Company's beliefs, plans, objectives, goals, expectations, anticipations, estimates, and intentions that are subject to significant risks and uncertainties and are subject to change based on various factors, many of which are beyond the Company's control. These factors include competition, timing, credit risks of lending activities, changes in general economic conditions, price pressures on loan and deposit products, and other factors detailed from time to time in the Company's filings with the Securities and Exchange Commission. The words "may", "could", "should", "would", "believe", "anticipate", "estimate", "expect", "intend", "plan", and similar expressions are intended to identify forward-looking statements. All such statements are made in good faith by the Company pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The Company does not undertake to update any forward-looking statement, whether written or oral that may be made from time to time by or on behalf of the Company, except as may be required by applicable law or regulations.
SOURCE: Republic First Bancorp, Inc.