republicfirst8k.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of
Report (Date of earliest event reported): June 17, 2008
Republic
First Bancorp, Inc.
(Exact
name of Registrant as Specified in its Charter)
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Pennsylvania (State
or Other
Jurisdiction
of Incorporation)
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000-17007
Commission File
Number
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23-2486815(IRS
Employer
Identification
No.)
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50 South
16th
Street, Suite 2400, Philadelphia, Pennsylvania 19102
(Address
of Principal Executive Offices)
(215) 735-4422
Registrant’s
telephone number, including area code
None
(Former
Name or Former Address, if Changed Since Last Report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see
General Instruction A.2. below):
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
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Item
5.02 Election of Director
Theodore
J. Flocco, Jr. C.P.A. was elected to the Board of Directors of the
company on June 17, 2008. Before his retirement, Mr. Flocco was Senior Audit
Partner for Ernst & Young LLP, and advised many of the largest SEC regulated
clients of the Philadelphia office for more than 35 years, including several
regional and local banks.
Mr.
Flocco's election to the Board of Directors resulted from investments by Vernon
Hill, Founder and Chairman (retired) of Commerce Bancorp, and a group of three
other investors, and Harry D. Madonna in a private placement of $10.8 million of
convertible trust preferred securities by Republic First Bancorp. The terms of
the investments provided for the naming of one individual to the board of
directors, and Mr. Flocco is Mr. Hill's designee for that position.
Mr.
Flocco offers significant experience in the banking, mutual fund, real estate
and manufacturing and distribution industries. His responsibilities at Ernst
& Young LLP included consulting with senior executives and directors of
companies on accounting and strategic business issues, mergers and acquisitions,
public offerings and SEC registrations. He has extensive experience in the
public offering market, having spearheaded more than 100 public equity and debt
offerings.
Republic
is headquartered in Philadelphia with $1.0 billion in assets, and is a
full-service, state-chartered commercial bank, whose deposits are insured by the
Federal Deposit Insurance Corporation (FDIC). The Bank provides diversified
financial products through its twelve offices located in Abington, Ardmore, Bala
Cynwyd, Plymouth Meeting, Media and Philadelphia, Pennsylvania and Voorhees, New
Jersey.