Republic first bancorp inc (FRBK)
Balance Sheet / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Dec'10
ASSETS
Cash and due from banks

32,581

41,928

57,562

38,770

31,511

35,685

37,303

29,363

21,927

36,073

27,181

28,247

25,119

19,830

23,061

18,561

18,000

13,777

14,212

16,377

25,316

14,822

13,546

17,070

17,835

12,525

11,468

8,934

9,592

9,097

7,750

8,713

8,627

13,221

12,832

10,164

6,146

Interest bearing deposits with banks

23,936

126,391

143,915

90,744

54,394

36,788

108,996

29,991

9,142

25,869

71,601

59,750

11,472

14,724

126,980

93,211

47,198

13,362

96,307

64,793

133,321

114,004

88,917

66,050

16,475

23,355

31,498

47,850

62,337

118,907

90,108

90,409

109,604

217,734

76,286

12,011

29,620

Federal funds sold

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,891

-

3,381

-

-

-

1,339

-

-

-

-

-

-

-

2,088

1,457

99

Cash and cash equivalents

56,517

168,319

201,477

129,514

85,905

72,473

146,299

59,354

31,069

61,942

98,782

87,997

36,591

34,554

150,041

111,772

65,198

27,139

110,519

81,170

162,528

128,826

105,844

83,120

34,310

35,880

44,305

56,784

71,929

128,004

97,858

99,122

118,231

230,955

91,206

23,632

35,865

Investment securities available for sale, at fair value

497,511

539,042

379,962

338,286

287,694

321,014

487,524

502,021

519,692

464,430

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Investment securities available for sale, at fair value

-

-

-

-

-

-

-

-

-

-

377,757

345,182

362,328

369,739

299,385

253,289

260,269

284,795

209,119

176,142

187,024

185,379

158,830

219,634

201,262

204,891

199,722

184,371

173,550

189,259

192,529

179,794

182,805

174,323

154,259

162,222

143,439

Investment securities held to maturity, at amortized cost (fair value of $636,861 and $653,109, respectively)

611,914

644,842

687,425

718,534

742,435

761,563

485,291

503,742

519,295

472,213

416,987

409,373

421,850

432,499

220,470

199,074

178,628

172,277

140,116

119,338

66,742

67,866

68,991

21

21

21

69

68

68

67

66

66

140

140

139

139

147

Restricted stock, at cost

2,746

2,746

2,371

5,130

2,097

5,754

1,916

8,379

5,435

1,918

1,678

3,878

1,366

1,366

1,366

1,367

1,179

3,059

1,179

1,179

1,157

1,157

1,725

1,725

1,567

1,570

1,570

2,326

3,276

3,816

4,369

4,816

5,062

5,321

5,594

5,881

6,501

Mortgage loans held for sale, at fair value

15,439

10,345

18,734

21,346

13,726

20,887

29,702

36,090

19,685

43,375

41,711

29,547

25,098

28,065

29,715

5,487

1,983

3,653

489

3,464

-

1,676

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other loans held for sale

1,381

3,004

2,476

2,066

2,016

5,404

3,137

3,211

5,968

2,325

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loans held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,955

-

789

491

3,796

4,931

7,130

282

165

82

1,089

975

1,875

925

1,390

5,827

-

Loans receivable (net of allowance for loan losses of $10,217 and $9,266, respectively)

1,871,820

1,738,929

1,560,913

1,500,664

1,469,186

1,427,983

1,370,704

1,310,012

1,244,262

1,153,679

1,087,147

1,057,056

1,016,962

955,817

936,088

920,993

890,088

866,066

837,037

814,477

777,857

770,404

739,817

706,806

684,898

667,048

641,533

628,401

617,769

608,359

613,380

595,528

592,506

577,442

621,256

624,280

608,911

Premises and equipment, net

119,893

116,956

111,573

105,311

94,390

87,661

81,912

80,069

77,153

74,947

71,715

65,471

58,926

57,040

55,573

53,617

49,586

46,164

45,094

40,961

36,573

35,030

29,767

29,041

24,140

22,748

21,181

21,232

21,630

21,976

22,415

22,772

23,131

23,507

23,906

24,342

25,496

Other real estate owned, net

1,144

1,730

6,653

6,406

6,088

6,223

6,768

6,559

6,966

6,966

9,169

9,909

9,944

10,174

10,271

11,974

11,393

11,313

13,773

13,162

3,827

3,715

3,775

3,637

3,696

4,059

5,951

6,584

8,268

8,912

7,312

6,135

6,135

6,479

13,988

13,109

15,237

Accrued interest receivable

10,475

9,934

9,277

9,270

9,166

9,025

8,301

8,019

7,756

7,009

6,340

5,840

5,987

5,497

4,588

4,367

4,434

4,216

3,548

3,559

3,401

3,226

3,282

3,104

3,163

3,049

2,920

2,969

3,273

3,128

3,149

3,127

3,033

3,003

3,101

3,129

3,119

Operating leases – right-of-use asset

65,952

64,805

65,860

67,117

54,692

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Goodwill

5,011

5,011

5,011

5,011

5,011

5,011

5,011

5,011

5,011

5,011

5,011

5,011

5,011

5,011

4,892

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Intangible asset

-

-

-

-

-

-

-

-

-

-

0

9

35

61

87

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Bank owned life insurance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

10,503

10,490

10,472

10,452

10,436

10,417

12,661

12,621

12,555

Other assets

40,613

35,627

34,189

32,331

32,654

30,299

30,641

30,453

29,172

28,532

25,266

24,214

24,490

24,108

21,986

20,307

19,915

20,142

19,940

18,966

19,919

17,319

17,896

17,555

17,009

17,468

18,487

16,649

15,653

14,565

14,351

15,604

14,934

14,841

25,301

25,710

24,827

Total Assets

3,300,416

3,341,290

3,085,921

2,940,986

2,805,060

2,753,297

2,657,206

2,552,920

2,471,464

2,322,347

2,141,563

2,043,487

1,968,588

1,923,931

1,734,462

1,582,247

1,482,673

1,438,824

1,380,814

1,272,418

1,263,983

1,214,598

1,130,716

1,065,134

973,862

961,665

942,868

919,666

926,084

988,658

966,990

938,391

958,288

1,047,353

952,801

900,892

876,097

LIABILITIES AND SHAREHOLDERS' EQUITY
Deposits
Demand - non-interest bearing

676,482

661,431

595,869

544,406

525,645

519,056

509,188

526,650

464,383

438,500

398,794

370,270

364,278

324,912

302,372

281,496

263,990

243,695

243,836

241,550

237,307

224,245

216,642

199,553

182,082

157,806

159,384

143,485

149,857

145,407

145,493

130,143

128,935

226,287

126,310

113,641

128,578

Demand - interest bearing

1,276,816

1,352,360

1,227,969

1,072,415

1,101,129

1,042,561

1,058,670

785,513

826,726

807,736

-

-

-

605,950

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Demand - interest bearing

-

-

-

-

-

-

-

-

-

-

745,878

647,501

629,583

-

587,197

472,575

426,346

381,499

391,230

327,342

310,595

283,768

224,102

212,710

198,080

230,221

188,572

180,802

159,601

180,440

173,010

144,754

103,385

109,242

98,293

97,149

66,283

Money market and savings

768,550

761,793

698,991

719,075

691,351

676,993

703,358

698,182

703,263

700,322

619,265

607,859

620,218

635,644

583,536

574,051

586,863

556,526

527,360

488,873

498,862

488,848

471,199

431,612

423,096

402,671

413,970

408,355

425,753

440,120

417,506

420,701

447,974

400,141

371,293

-

329,742

Deposits: Money market and savings

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

321,971

-

Time deposits

222,631

223,579

217,203

192,081

160,828

154,257

129,142

123,796

129,079

116,737

121,468

106,801

106,433

111,164

109,127

106,129

60,408

67,578

75,070

72,032

74,633

75,369

78,132

80,809

76,624

78,836

83,577

88,210

90,927

123,234

132,184

145,716

177,080

216,941

237,393

250,341

233,127

Time over $100,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

136,800

-

-

-

Total Deposits

2,944,479

2,999,163

2,740,032

2,527,977

2,478,953

2,392,867

2,400,358

2,134,141

2,123,451

2,063,295

1,885,405

1,732,431

1,720,512

1,677,670

1,582,232

1,434,251

1,337,607

1,249,298

1,237,496

1,129,797

1,121,397

1,072,230

990,075

924,684

879,882

869,534

845,503

820,852

826,138

889,201

868,193

841,314

857,374

952,611

833,289

783,102

757,730

Short-term borrowings

-

-

-

68,979

-

91,422

-

161,669

93,915

-

-

55,000

-

-

0

0

-

47,000

-

-

-

-

-

-

-

-

-

-

-

-

-

-

4,516

-

-

-

-

Accrued interest payable

1,733

1,630

1,655

1,134

828

558

401

408

339

293

577

317

490

444

339

313

219

245

283

235

260

265

300

292

226

237

309

522

494

301

646

753

960

1,049

1,238

1,431

953

Other liabilities

20,588

11,208

12,482

9,739

7,984

12,002

9,366

10,112

8,431

10,618

8,716

11,762

7,614

8,883

9,763

6,637

5,769

7,049

6,086

6,471

5,950

6,816

6,272

6,259

6,218

6,519

7,493

6,448

6,456

6,778

6,731

6,588

6,559

6,366

7,494

6,718

6,792

Operating lease liability obligation

70,233

68,856

69,646

70,537

57,650

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Subordinated debt

11,267

11,265

11,263

11,262

11,260

11,259

11,257

11,256

11,254

21,681

21,663

21,656

21,648

21,881

22,476

22,476

22,476

21,857

22,476

22,476

22,476

22,476

22,476

22,476

22,476

22,476

22,476

22,476

22,476

22,476

22,476

22,476

22,476

22,476

22,476

22,476

22,476

Total Liabilities

3,048,300

3,092,122

2,835,078

2,689,628

2,556,675

2,508,108

2,421,382

2,317,586

2,237,390

2,095,887

1,916,361

1,821,166

1,750,264

1,708,878

1,614,810

1,463,677

1,366,071

1,325,449

1,266,341

1,158,979

1,150,083

1,101,787

1,019,123

953,711

908,802

898,766

875,781

850,298

855,564

918,756

898,046

871,131

891,885

982,502

864,497

813,727

787,951

Shareholders’ Equity
Preferred stock, par value $0.01 per share: 10,000,000 shares authorized; no shares issued and outstanding

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Common stock, par value $0.01 per share: 100,000,000 shares authorized; shares issued 59,379,623 as of March 31, 2020 and 59,371,623 as of December 31, 2019; shares outstanding 58,850,778 as of March 31, 2020 and 58,842,778 as of December 31, 2019

594

594

594

594

593

593

593

593

592

575

575

575

574

573

384

384

384

384

383

383

383

383

383

383

265

265

265

265

265

265

265

265

265

265

265

265

265

Additional paid in capital

272,639

272,039

271,412

270,789

270,155

269,147

268,613

267,974

267,313

256,285

255,752

255,215

254,403

253,570

153,887

153,476

153,069

152,897

152,676

152,513

152,352

152,234

152,122

152,131

107,166

107,078

106,990

106,908

106,825

106,753

106,673

106,575

106,472

106,383

106,277

106,192

106,024

Accumulated deficit

-12,809

-12,216

-9,731

-7,909

-8,290

-8,716

-10,873

-13,195

-15,566

-18,983

-21,721

-24,042

-26,101

-27,888

-29,385

-30,725

-31,748

-32,833

-33,623

-34,205

-34,738

-35,266

-36,119

-36,416

-36,953

-37,708

-34,447

-32,225

-33,236

-34,228

-35,132

-35,530

-36,537

-37,842

-14,764

-16,128

-13,140

Treasury stock at cost (503,408 shares as of March 31, 2020 and December 31, 2019)

3,725

3,725

3,725

3,725

3,725

3,725

3,725

3,725

3,725

3,725

3,725

3,725

3,725

3,725

3,725

3,725

3,725

3,725

3,725

3,725

3,725

3,725

3,725

3,099

3,099

3,099

3,099

3,099

3,099

3,099

3,099

3,099

3,099

3,099

3,099

3,099

3,099

Stock held by deferred compensation plan (25,437 shares as of March 31, 2020 and December 31, 2019)

183

183

183

183

183

183

183

183

183

183

183

183

183

183

183

183

183

183

183

183

183

183

183

809

809

809

809

809

809

809

809

809

809

809

809

809

809

Accumulated other comprehensive loss

-4,400

-7,341

-7,524

-8,208

-10,165

-11,927

-18,601

-16,130

-14,357

-7,509

-5,496

-5,519

-6,644

-7,294

-1,326

-657

-1,195

-3,165

-1,055

-1,344

-189

-632

-885

-767

-1,510

-2,828

-1,813

-1,672

574

1,020

1,046

-142

111

-47

434

744

-1,095

Total Shareholders’ Equity

252,116

249,168

250,843

251,358

248,385

245,189

235,824

235,334

234,074

226,460

225,202

222,321

218,324

215,053

119,652

118,570

116,602

113,375

114,473

113,439

113,900

112,811

111,593

111,423

65,060

62,899

67,087

69,368

70,520

69,902

68,944

67,260

66,403

64,851

88,304

87,165

88,146

Total Liabilities and Shareholders’ Equity

3,300,416

3,341,290

3,085,921

2,940,986

2,805,060

2,753,297

2,657,206

2,552,920

2,471,464

2,322,347

2,141,563

2,043,487

1,968,588

1,923,931

1,734,462

1,582,247

1,482,673

1,438,824

1,380,814

1,272,418

1,263,983

1,214,598

1,130,716

1,065,134

973,862

961,665

942,868

919,666

926,084

988,658

966,990

938,391

958,288

1,047,353

952,801

900,892

876,097