Republic Bank Appoints Francis Mitchell as Senior Vice President, Treasurer and Chief Investment Officer

PHILADELPHIA, June 06, 2023 (GLOBE NEWSWIRE) -- Republic First Bancorp, Inc. (NASDAQ: FRBK) (the “Company”), the parent company of Republic First Bank d/b/a Republic Bank (the "Bank"), today announced the appointment of Francis “Fran” Mitchell as Senior Vice President, Treasurer and Chief Investment Officer, effective June 1, 2023. Fran brings a wealth of experience and expertise in the banking and finance industry based on his background holding senior positions at several notable financial institutions. He will report to Mike Harrington, Executive Vice President and Chief Financial Officer.

Fran will play a key role in overseeing and optimizing the Bank's financial performance and further strengthening its position in the market. Fran was most recently with Truist Securities in a depository and capital markets advisory role, where he collaborated closely with leading community and regional banks. His extensive background in asset and liability management, investment portfolio management, strategic finance, capital markets and financial modeling makes him a valuable addition to the Bank as it continues to lay the foundation to evolve into a more efficient and profitable organization.

"We are delighted to welcome Fran to the Bank and look forward to the positive impact he will have on the organization," said Mike Harrington. "His vast experience and deep understanding of the community and regional banking industry will be very beneficial as we continue to execute on our strategic plan and focus on driving sustainable growth. Fran's expertise in asset liability management will be especially useful as we navigate the dynamic financial landscape and prioritize enhancing value for all shareholders and stakeholders. This announcement is a testament to our commitment to attract and retain new talent and the ongoing strengthening of our leadership team to support and drive the execution of our long-term goals."

Fran’s previous roles span numerous financial institutions, including Bar Harbor Bank, Webster Bank, and Toronto Dominion Bank. He received a Master of Science in Financial Engineering from Temple University, an International Master of Business Administration from the University of Sao Paulo in Brazil and a Bachelor of Science in Engineering from Drexel University.

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 33 offices located in Atlantic, Burlington, Camden, Cape May, and Gloucester Counties in New Jersey; Bucks, Delaware, Montgomery and Philadelphia Counties in Pennsylvania, and New York City. 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.

Contacts:

Longacre Square Partners 

Greg Marose / David Reingold 

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