Republic First Bancorp

In 1988, Republic Bank was founded, and for the first 20 years, our primary offering was commercial banking services. In 2008, we changed our model and redirected our strategic efforts toward retail banking. Today, Republic Bank is moving towards creating a major commercial and retail bank with a distinct brand. Our focus now is on innovation, customer satisfaction, brand building, and shareholder value creation.

At Republic Bank, we offer our Customers “big bank” benefits with a small town feel. We are one of the largest Philadelphia-based banks, yet we make decisions locally, and we make them quickly. We pride ourselves on our retail-based model focused on convenience and Fanatic Customer Service. We make banking easy for our Customers and we get to know our Customers so we can better serve their needs.

Type
Public
HQ
Philadelphia, US
Founded
1987
Size (employees)
306 (est)+11%
Republic First Bancorp was founded in 1987 and is headquartered in Philadelphia, US

Republic First Bancorp Office Locations

Republic First Bancorp has an office in Philadelphia
Philadelphia, US (HQ)
2400 50 S 16th St

Republic First Bancorp Data and Metrics

Republic First Bancorp Financial Metrics

Republic First Bancorp's revenue was reported to be $20.5 m in Q1, 2017
USD

Revenue (Q1, 2017)

20.5 m

Gross profit (Q1, 2017)

18.6 m

Gross profit margin (Q1, 2017), %

90%

Net income (Q1, 2017)

1.8 m

EBIT (Q1, 2017)

14.2 m

Market capitalization (25-Jul-2017)

531.1 m

Cash (31-Mar-2017)

36.6 m
Republic First Bancorp's current market capitalization is $531.1 m.
USDFY, 2013FY, 2014FY, 2015FY, 2016

Revenue

37.2 m40.5 m45.4 m69.5 m

Revenue growth, %

9%12%53%

Cost of goods sold

4.6 m4.6 m5.4 m6.9 m

Gross profit

32.6 m35.8 m40.1 m62.7 m

Gross profit Margin, %

88%89%88%90%

Operating expense total

40.4 m40.6 m47.1 m56.3 m

EBIT

27.7 m34.9 m39.6 m45.8 m

EBIT margin, %

74%86%87%66%

Income tax expense

(35 k)(46 k)(26 k)(119 k)

Net Income

(3.5 m)2.4 m2.4 m4.9 m
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Revenue

11.8 m12.9 m13 m15.2 m16.2 m19 m20.5 m

Cost of goods sold

1.2 m1.3 m1.4 m1.5 m1.6 m1.8 m2 m

Gross profit

10.6 m11.6 m11.6 m13.7 m14.6 m17.2 m18.6 m

Gross profit Margin, %

90%90%89%90%90%90%90%

Sales and marketing expense

5.2 m5.8 m6 m6.2 m6.7 m7.9 m8.8 m

R&D expense

336 k373 k408 k467 k575 k669 k785 k

Operating expense total

5.5 m6.2 m6.4 m6.6 m7.3 m8.6 m9.6 m

EBIT

8.9 m9.6 m10 m11 m10.9 m11.2 m14.2 m

EBIT margin, %

76%74%77%72%67%59%69%

Income tax expense

(6 k)(5 k)(10 k)(25 k)(12 k)(32 k)(34 k)

Net Income

1.3 m1.6 m528 k1.1 m1.6 m1.1 m2.1 m3.4 m1.8 m
USDFY, 2013FY, 2014FY, 2015FY, 2016

Cash

35.9 m128.8 m27.1 m34.6 m

Accounts Receivable

3 m3.2 m4.2 m83.9 k

PP&E

22.7 m35 m46.2 m57 m

Goodwill

5 m

Total Assets

961.7 m1.2 b1.4 b1.9 b

Accounts Payable

237 k265 k245 k1.7 b

Total Liabilities

1.7 b

Additional Paid-in Capital

107.1 m152.2 m152.9 m253.6 m

Retained Earnings

(37.7 m)(35.3 m)(32.8 m)(27.9 m)

Total Equity

62.9 m113.4 m215.1 m

Financial Leverage

15.3 x12.7 x8.9 x
USDQ2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Cash

81.2 m110.5 m65.2 m111.8 m150 m36.6 m

PP&E

41 m45.1 m49.6 m53.6 m55.6 m58.9 m

Goodwill

4.9 m5 m

Total Assets

1.3 b1.4 b1.5 b1.6 b1.7 b2 b

Accounts Payable

1.1 b1.2 b1.3 b1.4 b1.6 b1.7 b

Additional Paid-in Capital

152.5 m152.7 m153.1 m153.5 m153.9 m254.4 m

Retained Earnings

(34.2 m)(33.6 m)(31.7 m)(30.7 m)(29.4 m)(26.1 m)

Total Equity

113.4 m114.5 m116.6 m118.6 m119.7 m218.3 m

Financial Leverage

11.2 x12.1 x12.7 x13.3 x14.5 x9 x
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

(3.5 m)2.4 m2.4 m4.9 m

Depreciation and Amortization

2.1 m2.4 m3.1 m3.5 m

Cash From Operating Activities

560 k9.7 m4.6 m5.3 m

Cash From Investing Activities

(73 m)(164.3 m)(330.5 m)(459.5 m)

Cash From Financing Activities

(19.7 m)247.6 m224.1 m461.6 m

Interest Paid

4.7 m4.6 m5.4 m6.7 m

Income Taxes Paid

235 k70 k190 k
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

1.3 m1.6 m528 k1.1 m1.6 m1.1 m2.1 m3.4 m1.8 m

Depreciation and Amortization

1.1 m1.8 m723 k1.5 m2.1 m969 k1.8 m2.8 m1.2 m

Cash From Operating Activities

6.2 m7.1 m(5.5 m)(344 k)2.1 m2 m1.1 m3 m4.3 m

Cash From Investing Activities

(59.1 m)(102.6 m)(9.9 m)(104.9 m)(185.7 m)(5.3 m)(54.6 m)(146.6 m)(45.4 m)

Cash From Financing Activities

100.1 m165.4 m49.2 m57.6 m165.3 m41.3 m138.2 m266.5 m43.1 m

Interest Paid

2.1 m3.3 m1.3 m2.6 m3.9 m1.4 m3 m5 m2 m

Income Taxes Paid

70 k70 k60 k90 k
USDY, 2017

Revenue/Employee

67.1 k

Financial Leverage

9 x

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