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
MRQ
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments128,057784,339168,31972,47361,94234,554
Cash and cash equivalents118,884775,300168,31972,47361,94234,554
Short-term investments9,1739,039    
Receivables15,07316,1209,9349,0257,0095,497
Total current assets:143,130800,459178,25381,49868,95140,051
Noncurrent Assets
Operating lease, right-of-use asset75,62772,94664,805
Property, plant and equipment127,440123,170116,95687,66174,94757,040
Intangible assets, net (including goodwill)   5,0115,0115,0115,072
Goodwill   5,0115,0115,0115,011
Intangible assets, net (excluding goodwill)      61
Total noncurrent assets:203,067196,116186,77292,67279,95862,112
Other undisclosed assets5,280,4594,069,1602,976,2652,579,1272,173,4381,821,768
TOTAL ASSETS:5,626,6565,065,7353,341,2902,753,2972,322,3471,923,931
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt 50123054091,422  
Total current liabilities: 50123054091,422  
Noncurrent Liabilities
Other undisclosed liabilities5,301,9134,757,3923,091,5822,416,6862,095,8871,708,878
Total liabilities:5,302,4144,757,6223,092,1222,508,1082,095,8871,708,878
Equity
Equity, attributable to parent324,242308,113249,168245,189226,460215,053
Preferred stock2020    
Common stock595594594593575573
Treasury stock, value(3,725)(3,725)(3,725)(3,725)(3,725)(3,725)
Additional paid in capital324,618322,321272,039269,147256,285253,570
Deferred compensation equity(183)(183)(183)(183)(183)(183)
Accumulated other comprehensive loss(10,674)(2,829)(7,341)(11,927)(7,509)(7,294)
Retained earnings (accumulated deficit)13,591(8,085)(12,216)(8,716)(18,983)(27,888)
Total equity:324,242308,113249,168245,189226,460215,053
TOTAL LIABILITIES AND EQUITY:5,626,6565,065,7353,341,2902,753,2972,322,3471,923,931

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

9/30/2022
TTM
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues36,12323,39930,36790,53178,64462,533
Net investment income32,90921,65830,36790,53169,74853,267
Cost of revenue (4,200)(1,905)(2,300)(900)(1,557)
Provision for loan, lease, and other losses (4,200)(1,905)(2,300)
Financial services costs(900)(1,557)
Other undisclosed gross profit      
Gross profit:36,12319,19928,46288,23177,74460,976
Operating expenses(41,290)(41,242)(31,028)(23,384)(58,822)(44,815)
Other operating income (expense), net
(Noninterest Income, Other Operating Income)
603168  177335
Operating income (loss):(4,564)(21,875)(2,566)64,84719,09916,496
Nonoperating expense
(Investment Income, Nonoperating)
      (7)
Interest and debt expense(18,591)(23,118)(27,057)(16,170)(8,784)(6,863)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes  51,43724,773(38,472)(4,329)(4,800)
Income (loss) from continuing operations before equity method investments, income taxes:(23,155)6,444(4,850)10,2055,9864,826
Other undisclosed income from continuing operations before income taxes56,857     
Income (loss) from continuing operations before income taxes:33,7026,444(4,850)10,2055,9864,826
Income tax expense (benefit)(8,526)(1,390)1,350(1,578)2,919119
Income (loss) from continuing operations:25,1765,054(3,500)8,6278,9054,945
Income (loss) before gain (loss) on sale of properties:25,1765,054(3,500)8,6278,9054,945
Net income (loss) attributable to parent:25,1765,054(3,500)8,6278,9054,945
Preferred stock dividends and other adjustments(3,500)(923)    
Net income (loss) available to common stockholders, basic:21,6764,131(3,500)8,6278,9054,945
Other undisclosed net income available to common stockholders, diluted3,500     
Net income (loss) available to common stockholders, diluted:25,1764,131(3,500)8,6278,9054,945

Comprehensive Income ($ in thousands)

9/30/2022
TTM
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income (loss):25,1765,054(3,500)8,6278,9054,945
Other comprehensive loss      (4,129)
Comprehensive income (loss):25,1765,054(3,500)8,6278,905816
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(7,845)4,5124,586(2,778)(215) 
Comprehensive income (loss), net of tax, attributable to parent:17,3319,5661,0865,8498,690816

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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