AI
Wednesday, June 13, 2007 3:39:23 PM
FRBK...Republic First Bancorp...Implementing a Stock Repurchase Program
Wednesday June 13, 11:51 am ET
PHILADELPHIA, June 13 /PRNewswire-FirstCall/ -- Republic First Bancorp, Inc. (Nasdaq: FRBK - News), parent company of Republic First Bank, announced today 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.
http://biz.yahoo.com/prnews/070613/new067.html?.v=9&printer=1
(9.90)
Wednesday June 13, 11:51 am ET
PHILADELPHIA, June 13 /PRNewswire-FirstCall/ -- Republic First Bancorp, Inc. (Nasdaq: FRBK - News), parent company of Republic First Bank, announced today 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.
http://biz.yahoo.com/prnews/070613/new067.html?.v=9&printer=1
(9.90)
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