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Regional Banks Are Rising With The Big Banks

Banks are recovering from their stock market slump and Republic First Bancorp, a Northeast regional bank, is enjoying it. Shares of the company are up 27% in morning trading.
Republic First Bancorp, Inc. (FRBK), the holding company for Republic Bank, today announced that it completed the sale of $100 million of its common stock at a price of $5.35 per share and elected Vernon W. Hill, II as a Director and Chairman of Republic First Bancorp, Inc.
Mr. Hill, a banking industry veteran, has said the bank will transform itself into a total customer oriented business model and the $100 million raised by the stock sale will be used to grow the company. Republic feels it has been transformed into a regional, high growth bank, creating “Fans Not Customers” for both retail and business customers.”

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