Key Developments For Republic First Bancorp, Inc.
Republic First Bancorp, Inc. (FRBK.O) (Consolidated Issue listed on NASDAQ Global Market)
Metro Bancorp, Inc. And Republic First Bancorp, Inc. Extends Merger Closing Deadline To December 31, 2009
Metro Bancorp, Inc. and Republic First Bancorp, Inc. announced that a contractual deadline for the closing of the merger of Republic First Bancorp into Metro Bancorp has been extended to December 31, 2009.
Republic First Bancorp, Inc. Appoints Frank A. Cavallaro As CFO-Form 8-K
Republic First Bancorp, Inc. reported in its Form 8-K that effective August 31, 2009, Frank A. Cavallaro has been appointed as Senior Vice President and Chief Financial Officer (CFO). As a result of Mr. Cavallaro's appointment, Edward J. Ryan, who has served since November 7, 2008 as the acting CFO Chief of the Company, will no longer act as the principal financial officer or principal accounting officer of the Company.
Metro Bancorp, Inc. And Republic First Bancorp Announce Extension of Merger Closing Deadline
Metro Bancorp, Inc. and Republic First Bancorp Inc. announced that a contractual deadline for the closing of the merger of Republic First Bancorp into Metro Bancorp has been extended to October 31, 2009. The extension provides the companies additional time to obtain required regulatory approvals for the merger. It also allows either company, with notice to the other, to further extend the closing deadline to December 31, 2009, if regulatory approvals are not obtained by September 30, 2009. Shareholders of Republic First Bancorp and Metro Bancorp approved the merger on March 18, 2009, and March 19, 2009, respectively.
Pennsylvania Commerce Bancorp, Inc. To Acquire Republic First Bancorp Inc.
Pennsylvania Commerce Bancorp, Inc. and Republic First Bancorp Inc., holding company of Republic First Bank, announced that the companies have signed a definitive agreement to merge to form Metro Bancorp Inc. Under the terms of the agreement, Pennsylvania Commerce Bancorp, Inc. will acquire Republic First in a tax free all stock transaction. On the effective date of the merger, Republic First shareholders will receive a fraction of a share of Pennsylvania Commerce Bancorp, Inc. common stock worth $10.00 for each share of Republic First stock owned. The actual exchange ratio will be based on the average closing price of Pennsylvania Commerce Bancorp, Inc. common stock for 20 consecutive trading days preceding the effective date of the merger. As of this date, Republic First shareholders will receive 0.36 shares of Pennsylvania Commerce Bancorp, Inc. common stock (COBH) with a ceiling of 0.38 shares and floor of 0.34 shares for each share of Republic First stock.
Republic First Bancorp, Inc. Announces Resignation And Appointment Of Chief Financial Officer- Form 8-K
Republic First Bancorp, Inc. announced in its Form 8-K that on November 7, 2008, Paul Frenkiel resigned his position as Executive Vice President and Chief Financial Officer (CFO) of Republic First Bancorp, Inc., referred to as the Company, and its subsidiary, Republic First Bank, referred to as the Bank. The Boards of Directors of the Company and the Bank appointed Edward J. Ryan to serve as the acting CFO of the Company.
