rfb8k.htm
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 13, 2007
Republic
First Bancorp, Inc.
(Exact
name of registrant as specified in its charter)
Pennsylvania
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0-17007
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23-2486815
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(State
or other jurisdiction of
incorporation
or organization)
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(Commission
File No.)
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I.R.S.
Employer
Identification
No.)
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50
S. 16th
Street Suite 2400 Philadelphia, PA
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19102
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(Address
of principal executive offices)
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(Zip
Code)
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(215)-735-4422
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(Registrant’s
telephone number, including area
code)
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1608
Walnut Street, Suite 1000, Philadelphia, PA
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(Former
name, former address and former fiscal year,
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if
changed since last report)
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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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[
]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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[
]
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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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[
]
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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
8.01 Other Events
Republic
First Bancorp, Inc. (NASDAQ:FRBK), parent company of Republic First Bank,
announced on June 13, 2007 that it is implementing a stock repurchase
program.
The
repurchase program will be in effect from time to time for varying periods
from
and after June 14, 2007, through and including June 30, 2008. The
aggregate amount of the Company stock to be repurchased will be determined
by
market conditions but will not exceed 5%, or approximately 500,000 shares,
of
the Company’s issued and outstanding stock. The Company will execute
the program through open market purchases. Stock repurchased under
the repurchase program will be retired.
A
spokesperson for the Company stated that the repurchase program was initiated
because the Company believes its stock is undervalued by the
market. This action affirms the Company’s confidence in the future
value of the Company.
Republic
First Bank (PA) 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
eleven offices located in Abington, Ardmore, Bala Cynwyd, East Norriton, Media
and Philadelphia, Pennsylvania and Voorhees, New Jersey.
The
Company may from time to time make written or oral “forward-looking statements”,
including statements contained in this release and in the Company's filings
with
the Securities and Exchange Commission. These forward-looking
statements include statements with respect to the Company's beliefs, plans,
objectives, goals, expectations, anticipations, estimates, and intentions that
are subject to significant risks and uncertainties and are subject to change
based on various factors, many of which are beyond the Company's control. The
words “may”, “could”, “should”, “would”, “believe”, “anticipate”, “estimate”,
“expect”, “intend”, “plan”, and similar expressions are intended to identify
forward-looking statements. All such statements are made in good
faith by the Company pursuant to the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. The Company does not undertake to
update any forward-looking statement, whether written or oral, that may be
made
from time to time by or on behalf of the Company.
SIGNATURES
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 hereunto
duly authorized.
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REPUBLIC
FIRST BANCORP, INC.
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Dated:
June 14, 2007
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/s/
Paul Frenkiel
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Name:
Paul Frenkiel
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Title:
Chief Financial Officer
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