Republic First Bancorp Elects Vernon W. Hill, Completes $100M Common Stock Offering
Republic First Bancorp, the holding company for Republic First Bank with offices in Abington, Bala Cynwyd, Plymouth Meeting, and Wynnewood, has elected Vernon W. Hill, II as its new Director and Chairman.
Hill, who is credited with reinventing Retail Banking, has an impressive resume that includes being the Founder and Chairman of Commerce Bancorp, the $50 billion Retail Bank with 450 locations. He was also the Founder and Chairman of Metro Bank in the UK, the first new Retail high street bank opened in Britain since 1840 and Chairman of Petplan USA, one of our nation’s premier pet health insurers.
Harry D. Madonna, the founder of Republic First Bancorp, will continue as CEO and Chairman of Republic Bank.
“I am pleased to work with Chairman Madonna and President Andy Logue to, again, redefine American banking,” said Hill.
Republic First also announced the completion of its $100 million common stock offering at $5.35 per share.
“Using Vernon’s model and strengthened by this $100 million equity raise, Republic has been transformed into a regional, high growth bank, creating “Fans Not Customers” for both retail and business customers,” said Madonna.
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