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 THE REPORT (Date of Earliest Event Reported): May 20, 1999
REPUBLIC FIRST BANCORP, INC.
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
PENNSYLVANIA 0-17007 23-2486815
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(STATE OR OTHER JURISDICTION (COMMISSION FILE (I.R.S. EMPLOYER
OF INCORPORATION) NUMBER) IDENTIFICATION NO.)
1608 WALNUT STREET, PHILADELPHIA PA 19103
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(ADDRESS AND ZIP CODE OF PRINCIPAL EXECUTIVE OFFICES)
REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE (215) 735-4422
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(FORMER NAME OR FORMER ADDRESS, IF CHANGED FROM LAST REPORT)
Page 1 of 5 Pages
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Item 5. Other Events.
On May 20, 1999, the Registrant announced that effective May 24, 1999, the
Board of Directors has elected James V. Schermerhorn as Executive Vice
President/Chief Lending Officer of First Republic Bank, a wholly owned
subsidiary of the Registrant.
A copy of the press release announcing this transaction is attached as
Exhibit 99.1.
Page 2 of 5 Pages
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
REPUBLIC FIRST BANCORP, INC.
(Registrant)
Dated: May 20, 1999 By: /s/ George S. Rapp
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George S. Rapp
Executive Vice President
Page 3 of 5 Pages
Exhibit 99.1
Press Release dated May 20, 1999
NEWS RELEASE
FOR RELEASE
IMMEDIATELY
Contact: Jere A. Young
215-735-4422
Schermerhorn appointed Exec VP/Chief Lending Officer at First Republic Bank
Philadelphia, PA., May 20, 1999 - (NASDAQ:FRBK). Effective May 24, 1999,
James V. Schermerhorn, who has over 25 years of banking experience with Mellon
Bank ranging from First VP of Business Banking to Manager, National Business
Banking will become Executive Vice President/Chief Lending Officer at First
Republic Bank, announced President and Chief Executive Officer Robert D. Davis.
Schermerhorn is known in the Philadelphia region for creating and growing
new divisions such as the Business Banking Department at Mellon, which grew from
$35 million to over $350 million. He said he is joining First Republic because
of the "unprecedented opportunities that exist today for community banks as a
result of the consolidation in the financial services industry."
While Schermerhorn's immediate focus will be to create strong relationships
with businesses and professionals in the Philadelphia region, his national
expertise "will allow us to evaluate opportunities to become a more
regional/national player through e-commerce and other alternative delivery
systems," said Davis.
<PAGE>
The appointment of Schermerhorn, according to Davis, is part of First
Republic's new growth strategy to "bring in experienced talent to meet the
objective of greater diversification to our commercial portfolio through
creating strong relationships with our community bank customers."
First Republic Bank, Philadelphia, is a full-service, state-chartered
commercial bank, a member of the Federal Reserve System and its deposits are
insured by the Federal Deposit Insurance Corporation (FDIC). The Bank provides
diversified financial products through its eight offices located in Abington,
Ardmore, Bala Cynwyd, East Norriton and Philadelphia.
Page 5 of 5 Pages
