Republic Bank Announces 3-Year Community Reinvesetment Grant Donation to Margate Terrace Senior Living in Partnership with Senior Secure

PHILADELPHIA, July 05, 2023 (GLOBE NEWSWIRE) -- Republic First Bancorp, Inc. (NASDAQ:FRBK), the parent company Republic First Bank d/b/a Republic Bank (the "Bank") is proud to announce a significant donation from the Bank in the form of a 3-year grant to Margate Terrace Senior Living Apartment Building. This initiative is part of Republic Bank's dedication to the Community Reinvestment Act (CRA) and is being executed in collaboration with Senior Secure, an effort focused on providing protection against elder abuse and enhancing the quality of life for seniors.

Margate Terrace, a senior living apartment building for low-to-moderate income residents, has been serving the Jersey Shore community for 28 years. With the generous grant from Republic Bank, Margate Terrace will further amplify its ongoing efforts in creating a safe, comfortable, and thriving environment for its residents.

During a special ceremony held at Margate Terrace, Retail Market Manager Leslie DiLuigi and CRA Development Manager Christina Nugent presented the grant on behalf of Republic Bank. Their presence underscored the Bank's unwavering commitment to investing in the community.

"We are delighted to join forces with Senior Secure and present this substantial grant to Margate Terrace," said EVP and Chief Retail Officer Sharon Hammel. "At Republic Bank, we recognize the importance of supporting the well-being of our senior community members. The Community Reinvestment Act lies at the heart of this meaningful endeavor. We aim to create a safer and more enriching environment for the residents of Margate Terrace, promoting their overall quality of life."

The 3-year grant will be utilized to enhance Margate Terrace's existing programs and facilities, enabling them to provide an improved quality of life for the residents. It will contribute to the expansion of safety measures, social engagement activities, and health and wellness initiatives, ensuring that the seniors living at Margate Terrace receive the care and support they deserve.

Republic Bank provides banking services at three convenient locations along the Jersey Shore: Ocean City, Northfield, and Somers Point.

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 

[email protected]/ [email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1609987a-8fab-4134-af69-84de9b7feb1c