PHILADELPHIA, Nov. 18, 2013 /PRNewswire/ -- Republic First Bancorp, Inc. (NASDAQ: FRBK), the holding company for Republic Bank, today announced that for FY2013 ( Ending September 30, 2013 ), its Small Business Administration (SBA) Lending Group had 12 month production of $136,522,100, which improved its national ranking to 18th among 3,000 participating banks nationwide. Further, Republic Bank is again ranked number one for SBA lending within its tri-state footprint of Pennsylvania, New Jersey and Delaware.
"Led by Executive Vice President Arnold Horvath, we have the premiere SBA Lending Team in the tri-state area, which not only delivers year-over-year growth for Republic but understands that SBA loan approval doesn't need to take all day," said Harry Madonna, Chairman and Chief Executive Officer of Republic Bank. "We are proud of our national SBA ranking, which has risen every year since 2011, and our continued top ranking in the Mid-Atlantic region."
Andrew Logue, President and Chief Operating Officer for Republic Bank, also commented. "Outstanding business plans not only deserve funding but a banking partner that can deliver that funding creatively and quickly. The loans we have given in Pennsylvania, New Jersey and Delaware have helped to create jobs, stimulate commerce and spur our region's economic recovery. To be recognized as 'Top 20' in the nation and number one in our footprint validates our strategic approach to SBA lending and more, all of the community businesses we have given loans."For more information about Republic Bank visit www.myrepublicbank.com. 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 thirteen offices located in Abington, Ardmore, Bala Cynwyd, Plymouth Meeting, Media and Philadelphia, Pennsylvania and Voorhees and Haddonfield, New Jersey. 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.