PHILADELPHIA, Nov. 22, 2017 (GLOBE NEWSWIRE) -- Republic First Bancorp, Inc. (NASDAQ: FRBK ), the parent company of Republic Bank , today released the results of its Small Business Pulse Survey, which surveyed more than 200 small business owners across the tri-state footprint of Pennsylvania, New Jersey and Delaware. The survey was commissioned to gauge small business owners’ sentiments regarding the health of their companies, the state of the local economy, banking preferences and more. In addition, Republic Bank announced plans to continue its annual tradition of surprising and delighting local proprietors and shoppers to celebrate Small Business Saturday. This year, the bank will be bringing its festive Street Team to Haddonfield to honor Inwood Books and the Running Company, providing free gift cards to encourage residents to shop small.
“As one of the top three SBA lenders in the tri-state area for the last four years, we love championing small businesses and highlighting the incredible role they play in our neighborhoods,” said Harry Madonna, chairman and CEO of Republic Bank. “Inwood Books and the Running Company are perfect examples of how small businesses fuel our economy and make our communities more vibrant. The small business survey provides a unique opportunity to garner the thoughts of entrepreneurs on a variety of issues, helping us shine a light on what matters to them and how we can help support their growth.”
The Small Business Pulse Survey reveals that, overall, small business owners in the tri-state area have a positive outlook on the local economy, with 70 percent of respondents reporting they were optimistic or very optimistic. Equally important, 83 percent are planning to invest in their business over the next 12 months, citing hiring, developing new products and service offerings, and technology infrastructure upgrades as the top targets for capital. Other survey highlights include 49 percent of small business owners adopting pet-friendly work policies, and 88 percent of owners finding the in-store banking experience to be important to the success of their business.
Small Business Saturday, held each year on the Saturday between Black Friday and Cyber Monday, was enjoyed by more than 100 million Americans last year with spending eclipsing $15 billion. Joining in on the fun, Republic Bank’s friendly mascot R Dog and staff will incentivize shoppers along Kings Highway in downtown Haddonfield with $10 gift cards and special invitations to the bank’s "Worth the Switch" program. This program provides new customers a $20 bonus when they open an "absolutely free" checking or savings account at Republic Bank.
Building on the momentum of its aggressive growth plan, referred to as "The Power of Red is Back," Republic Bank continues to rapidly expand its regional footprint. This year, Republic Bank has opened three new stores in New Jersey and will also open a new store location in Fairless Hills, PA by the end of 2017. As one of the largest Philadelphia-based retail banking institutions with 22 convenient locations, Republic Bank stores are open seven days a week, 361 days a year, with extended lobby and drive-thru hours, providing customers with the longest hours of any bank in the area. The bank also offers absolutely free checking, free coin counting, ATM/Debit cards issued on the spot and access to more than 55,000 surcharge free ATMs worldwide via the Allpoint network.
About Republic Bank
Republic Bank is the operating name for Republic First Bank. 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). The Bank provides diversified financial products through its 22 offices located in Burlington, Camden, and Gloucester Counties in New Jersey and Delaware, Montgomery and Philadelphia Counties in Pennsylvania. In addition, Republic Bank offers a wide range of mortgage products through its wholly owned subsidiary, Oak Mortgage Company.
Forward Looking Statements
Republic First Bancorp, Inc. ("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. These factors include competition, timing, credit risks of lending activities, changes in general economic conditions, price pressures on loan and deposit products, and other factors detailed from time to time in the Company's filings with the Securities and Exchange Commission. 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, except as may be required by applicable law or regulations.
CONTACT Bill Tierney bill@briancom.com (484) 385-2985
