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Article: First Republic Bancorp, Inc., Parent of First Republic Bank, Reports $2.7 Million in Earnings for 1996, 4th Quarter Net Income Totaled $335,000
- Article from:
- PR Newswire
- Article date:
- January 29, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PHILADELPHIA, Jan. 29 /PRNewswire/ -- First Republic Bancorp, Inc. (Nasdaq: FRBK), parent company of First Republic Bank, today reported net income for 1996 of $2.7 million or $1.10 per share, compared to $603,000, or $.38 per share for 1995. Net income for the fourth quarter of 1996 totaled $335,000, or $.11 per share compared with $156,000, or $.10 per share for the same period in 1995.
The significant increase in earnings in 1996 was the result of the Bank's merger with ExecuFirst Bancorp and the resulting growth in assets over the past year as well as income generated from participation in a tax refund program. The results in 1995 did not include ...
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