rfb8k.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of The Securities Exchange Act of 1934
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Date
of Report (Date of earliest
event reported):
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July
21, 2008
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Republic
First Bancorp, Inc.
(Exact
name of registrant as specified in its charter)
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Pennsylvania
(State
or other jurisdiction
of
incorporation)
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000-17007
(Commission
File Number)
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23-2486815
(I.R.S.
Employer
Identification
No.)
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50
South 16th Street, Suite 2400, Philadelphia, PA 19102
(Address
of principal executive offices) (Zip code)
(215)-735-4422
(Registrant’s
telephone number, including area code)
Check the
appropriate box below if the Form 8-K is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following
provisions:
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[ ]
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Written
communications pursuant to Rule 425 under the Securities
Act
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange
Act
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange
Act
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Item
5.02.
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Departure
of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain
Officers.
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On July
21, 2008, Louis J. DeCesare Jr. notified the chairman of the board of directors
of Republic First Bancorp, Inc., the “Company,” and its wholly-owned banking
subsidiary, Republic First Bank, the “Bank,” that he would be terminating his
employment agreement and expressed his willingness to ensure a smooth
transition. Mr. DeCesare has been employed as the president and chief
operating officer of the Bank since December 2006, and has served as a director
of the Company and the Bank since February 2006.
The
Company, the Bank and Mr. DeCesare agreed that Mr. DeCesare’s employment as
president and chief operating officer of the Bank terminated effective July 21,
2008, and Mr. DeCesare has resigned his positions as director of the Company and
the Bank. At the time of his resignation, Mr. DeCesare was a member
of the compliance committee of the board of directors of the
Company. Mr. DeCesare did not resign from the boards of directors
because of a disagreement with the Company on any matter relating to the
Company’s operations, policies or practices. Mr. DeCesare will
continue to be engaged as a consultant to the Company and the Bank for a period
of six months.
The board
of directors of the Bank appointed Harry D. Madonna to serve as president of the
Bank effective as of July 21, 2008. Mr. Madonna is the chairman of
the boards of directors and chief executive officer of the Company and the
Bank. Information regarding Mr. Madonna, his experience, employment
agreement, and relationship with First Bank of Delaware has been previously
reported in the Company’s definitive proxy statement for its 2008 annual meeting
of stockholders, filed with the U.S. Securities and Exchange Commission on March
11, 2008, under the headings “Director Nominees,” “Executive Compensation,” and
“Certain Relationships and Related Transactions,” and is hereby incorporated by
reference.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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REPUBLIC
FIRST BANCORP, INC.
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Date: July
25, 2008
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By: Paul Frenkiel, Chief
Financial Officer
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