Republic Bank Announces Annual Meeting Date

Republic Bancorp

PHILADELPHIA, PA — Republic First Bancorp, Inc. (NASDAQ: FRBK), the parent company of Republic First Bank d/b/a Republic Bank, announced that its 2022 Annual Meeting of Shareholders (the “Annual Meeting”) will be held on Thursday, October 5, 2023.

The Board of Directors has set August 11, 2023, as the record date for determining shareholders entitled to receive notice of, and vote at, the Annual Meeting. Shareholders of record are entitled to propose nominees for election to the Board at the Annual Meeting in accordance with the advance notice requirements of the Company’s Amended and Restated Articles of Incorporation and Amended and Restated By-Laws. To be considered valid, such notice must comply with the requirements in the Charter, By-Laws and applicable securities laws and be received by the Company before or on July 15, 2023. The date of the Annual Meeting and the deadline for shareholder nominations are consistent with the agreement between the Company and George E. Norcross, III, Gregory B. Braca, Phillip A. Norcross and affiliates (the “Norcross Group”) entered by the Court of Common Pleas of Philadelphia County on April 21, 2023.

The Board intends to expand its size by one director at the Annual Meeting, such that shareholders will have the opportunity this year to vote on three directors on a Board of eight. This addition is part of the Board’s ongoing refreshment process intended to ensure that independent and diverse directors with relevant skills and experience are leading the business forward. As a result, four new directors – constituting 50% of the Board – will have joined the Board since July of 2022.

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The Company has previously been prevented from scheduling the Annual Meeting due to legacy issues associated with former management that resulted in delays in the Company filing its fiscal year 2022 financial statements and litigation brought against the Company by the Norcross Group.

Shareholders are not required to take any action at this time. Further information about the Annual Meeting, including the Company’s director nominees, will be presented in the Company’s definitive proxy statement to be filed with the Securities and Exchange Commission in due course.

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