Republic First Bancorp (FRBK) Comments on Recent Schedule 13D Filings, Affirms its Commitment as Fiduciaries to Maximize Value

The Board of Directors (the “Board”) of Republic First Bancorp, Inc. (the “Bank”) (NASDAQ: FRBK), the holding company for Republic Bank, today issued the following statement in response to recent Schedule 13D filings (the “Filings”) of a shareholder group (the “Shareholder Group”) with the Securities and Exchange Commission:

“The Board is committed to discharging its fiduciary duty to the Bank, as well as its shareholders and the communities the Bank serves. Consistent with this duty, the Board continues to review the Filings by the Shareholder Group carefully and objectively in the same manner it would evaluate input from any shareholder or third party. As fiduciaries, the Board remains open to any and all proposals to maximize value. The Board has retained Keefe, Bruyette & Woods, Inc. (“KBW”), a leading investment bank specializing exclusively in the financial sector, to advise the Board with respect to any proposals. The Board has also authorized KBW to communicate directly with the Shareholder Group about the Filings.”

Shareholders are not required to take any action at this time.

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