Republic First Bancorp, Inc. Comments on the Norcross Group's Latest 13D Filing
PHILADELPHIA, Oct. 24, 2022 /PRNewswire/ -- The Board of Directors (the "Board") of Republic First Bancorp, Inc. (NASDAQ: FRBK) (the "Company"), the holding company for Republic First Bank d/b/a Republic Bank, today issued the following statement in response to the October 21, 2022 amended Schedule 13D filing and accompanying demand letter (the "Norcross Filing") issued by George E. Norcross, III, Gregory B. Braca, Philip A. Norcross and Avery Conner Capital Trust and its trustees (collectively, and together with their respective affiliates, the "Norcross Group"):
- The Norcross Group's repeated claims that its principals have been ignored by the Board are utterly false.
- Indeed, the Norcross Group has had access to the full Board, through the Norcross Group's advisors, as well as regular dialogue with individual directors (directly and through advisors).
- The Norcross Group's harmful behavior patterns call into question how George Norcross' and the Norcross Group's actions might reflect on the Company and affect the Company's employees and the communities that the Company serves.
- Republic First Bancorp, Inc. is the holding company for Republic First Bank, which does business under the name Republic Bank.