Republic Bank Donates $10,000 to Golden Sunrise, Saves Mummers' Fancy Club Division

Contribution ensures Fancy Division will continue the Mummers Parade tradition for 2015 and 2016

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Dec 31, 2014, 09:50 ET

PHILADELPHIA, Dec. 31, 2014 /PRNewswire/ -- Republic First Bancorp, Inc. (NASDAQ: FRBK), the holding company for Republic Bank, announced a $10,000 donation to Golden Sunrise New Year's Association, the Mummers Parade's last remaining Fancy Club. Once facing the dismal reality of folding the organization and losing one of America's oldest forms of folk art, Golden Sunrise's future is now bright as this donation will allow the group to march in 2015 and 2016. With roots going back to early Swedish settlers in the 17^th Century, the annual Mummers Parade became an official Philadelphia event in 1901. Today, more than 10,000 Mummers ring in the New Year as they march through Philadelphia to the delight of the local community.

"When Republic Bank learned of Golden Sunrise's dire financial situation, we knew we had to act quickly to preserve this cherished Philadelphia tradition," said Harry Madonna, Chairman and CEO of Republic Bank. "The Mummers Day Parade has been a part of our city's DNA since the 1800s and, as a regional bank committed to our local communities, we are honored to be able to lend a helping hand."

Founded in 1960, Golden Sunrise's dedicated members have dazzled Philadelphians with their colorful and intricately decorated costumes and floats. In addition to marching in the annual Mummers Day Parade, the group aims to engage with residents of Philadelphia and educate them about Mummery and its cultural significance. City-wide budget cuts during the economic recession eliminated funding for the Fancy Division, causing Golden Sunrise's financial crisis. Unable to afford badly needed repairs to the clubhouse's leaking roof, which threatened to destroy costumes that had been lovingly preserved and reused for more than five decades, Republic Bank's donation assures that the necessary repairs will be made and also provides additional funding for costume design and materials.

"We are so grateful for Republic Bank's generous donation," Golden Sunrise president Jack Cohen added. "To be grappling with the painful certainty of closing our doors forever just a few weeks ago and now, to have our entire organization reinvigorated is overwhelming. Thanks to Republic's commitment to our community and its financial support, our time-honored traditions will be able to live on for Philadelphians to enjoy."

To join Republic Bank in supporting Golden Sunrise, ensuring their continued participation in the Mummers Day Parade, please visit www.goldensunrisenya.com.

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 offices located in Abington, Ardmore, Bala Cynwyd, Plymouth Meeting, Media and Philadelphia, Pennsylvania and Cherry Hill, Voorhees and Haddonfield, New Jersey.

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.

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