Republic First Bancorp, Inc. (FRBK) Financial Statements (2024 and earlier)

Company Profile

Business Address TWO LIBERTY PLACE
PHILADELPHIA, PA 19102
State of Incorp. PA
Fiscal Year End December 31
Industry (SIC) 6022 - State Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments92,949109,345128,057 775,940837,976
Cash and cash equivalents86,156101,457118,884 766,699828,897
Short-term investments6,7937,8889,173 9,2419,079
Receivables16,38116,01415,073 14,64416,657
Total current assets:109,330125,359143,130 790,584854,633
Noncurrent Assets
Operating lease, right-of-use asset75,27176,45475,627 78,17479,614
Property, plant and equipment130,498129,607127,440 123,675122,867
Total noncurrent assets:205,769206,061203,067 201,849202,481
Other undisclosed assets5,541,7835,369,2625,280,459 4,385,0054,338,844
TOTAL ASSETS:5,856,8825,700,6825,626,656 5,377,4385,395,958
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt   501   
Total current liabilities:   501   
Noncurrent Liabilities
Other undisclosed liabilities5,621,9595,423,6695,301,913 5,056,9975,087,582
Total liabilities:5,621,9595,423,6695,302,414 5,056,9975,087,582
Equity
Equity, attributable to parent, including:234,923277,013324,242323,513320,441308,376
Preferred stock151520 2020
Common stock643643595 594594
Treasury stock, value(3,725)(3,725)(3,725) (3,725)(3,725)
Additional paid in capital326,031325,479324,618 323,442322,861
Deferred compensation equity(183)(183)(183) (183)(183)
Accumulated other comprehensive loss(108,332)(61,836)(10,674) (2,874)(9,299)
Retained earnings (accumulated deficit)20,47416,62013,591 3,167(1,892)
Other undisclosed equity, attributable to parent    323,513  
Total equity:234,923277,013324,242323,513320,441308,376
TOTAL LIABILITIES AND EQUITY:5,856,8825,700,6825,626,656323,5135,377,4385,395,958

Income Statement (P&L) ($ in thousands)

9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
Revenues15,35713,90712,2799,0397,5277,278
Net investment income14,67313,38011,1008,3986,8946,517
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
 (620) (900) (3,000)
Other undisclosed gross profit   3,900   
Gross profit:15,35713,28716,1798,1397,5274,278
Operating expenses(15,859)(11,423)(11,043)(10,700)(9,866)(9,681)
Other operating income (expense), net
(Noninterest Income, Other Operating Income)
(501)(1,257)(21)50217357
Operating income (loss):(1,003)6075,115(2,511)(2,122)(5,046)
Interest and debt expense(3,824)(3,308)(4,552)(4,336)(4,715)(4,988)
Other undisclosed income from continuing operations before equity method investments, income taxes     14,63719,394
Income (loss) from continuing operations before equity method investments, income taxes:(4,827)(2,701)563(6,847)7,8009,360
Other undisclosed income from continuing operations before income taxes10,69310,9107,89414,931  
Income from continuing operations before income taxes:5,8668,2098,4578,0847,8009,360
Income tax expense(1,368)(2,090)(2,379)(1,988)(1,866)(2,292)
Income from continuing operations:4,4986,1196,0786,0965,9347,068
Income before gain (loss) on sale of properties:4,4986,1196,0786,0965,9347,068
Net income attributable to parent:4,4986,1196,0786,0965,9347,068
Preferred stock dividends and other adjustments(644)(866)(875)(875)(875)(875)
Net income available to common stockholders, basic:3,8545,2535,2035,2215,0596,193
Other undisclosed net income available to common stockholders, diluted644866875875875 
Net income available to common stockholders, diluted:4,4986,1196,0786,0965,9346,193

Comprehensive Income ($ in thousands)

9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
12/31/2021
Q4
9/30/2021
Q3
6/30/2021
Q2
3/31/2021
Q1
Net income:4,4986,1196,0786,0965,9347,068
Comprehensive income:4,4986,1196,0786,0965,9347,068
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(46,496)(51,162)(5,070)(2,730)6,425(6,470)
Comprehensive income (loss), net of tax, attributable to parent:(41,998)(45,043)1,0083,36612,359598

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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