Republic First Bancorp Faces Restructuring After Bank Shutdown

Republic First Bancorp (FRBK) has shared an announcement.

On April 26, 2024, Republic First Bank was shut down by the Pennsylvania Department of Banking and Securities, leading to significant changes at its parent company, Republic First Bancorp, Inc. Four directors, including Andrew B. Cohen and Harry D. Madonna, stepped down from their positions. Concurrently, the Board of Directors reduced the board’s minimum size from five to three members, reflecting the company’s restructuring efforts in the wake of the bank’s closure.

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