Madonna Resumes Leadership of Republic First Bancorp
Retrieved on:
Tuesday, August 9, 2022
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PHILADELPHIA, Aug. 9, 2022 /PRNewswire/ -- Republic First Bancorp, Inc. (NASDAQ: FRBK) (the "Company"), the parent company of Republic First Bank d/b/a Republic Bank (the "Bank"), today announced that founder and former CEO and Board Chair, Harry D. Madonna, Esquire has been named Interim Chief Executive Officer of the Company, effective immediately. He will also hold the role of Executive Chair of the Company's Board of Directors (the "Board"). These changes come on the heels of the departure of Vernon W. Hill, Jr. as CEO, who, together with Barry Spevak, resigned from the boards of the Company and the Bank today. Mr. Madonna has pledged to maximize value for all constituents.
Key Points:
- Madonna has pledged to maximize value for all constituents.
- Mr. Madonna has more than 30 years of banking experience, founding Republic Bank in 1988.
- He has served as President and CEO of Republic First Bancorp, Inc., Republic Bank's holding company since 2001, Chair from 1988 to 2016, Interim Board Chair commencing in July of 2022, and President of the Bank from 2001 to 2010.
- 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).