The Company may from stretch to control fabricate written or enunciated "forward-looking statements", including statements contained in this unloose and in the Company's filings with the Securities and Exchange Commission. These forward- looking statements embrace statements with show consideration to the Company's beliefs, plans, objectives, goals, expectations, anticipations, estimates, and intentions that are discussed to significant risks and uncertainties and are substance to coin based on various factors, many of which are beyond the Company's control. The words "may", "could", "should", "would", "believe", "anticipate", "estimate", "expect", "intend", "plan", and comparable expressions are intended to tag forward-looking statements. All such statements are made in advantage belief by the Company pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. The Company does not try to update any forward-looking statement, whether written or oral, that may be made from rhythm to ease by or on behalf of the Company. Republic First Bancorp, Inc. Selected Consolidated Financial Data (Unaudited) At or for the Three months ended % % (in thousands, excuse per9/30/08 6/30/08 Change 9/30/07 Change piece amounts) Income Statement Data: Net weight revenue $7,618$7,0049% $7,804 -2% Provision for accommodation losses 43430% 1,282 -97% Noninterest profit 672 836 -20% 760 -12% Total revenues 8,290 7,8406% 8,564 -3% Noninterest operating expenses6,008 6,061 -1% 5,4889% Net return 1,533 1,189 29% 1,236 24% Per Common Share Data: Net income: Basic$0.14 $0.11 27% $0.12 17% Net income: Diluted 0.14 0.11 27%0.12 17% Book Value $7.47 $7.43 $7.59 Weighted regular shares outstanding: Basic 10,58110,44510,345 Diluted 12,31010,86210,598 Balance Sheet Data: Total assets $964,732 $947,5892% Loans (net)764,245 784,115 -3% Allowance for advance losses6,807 6,7601% Investment securities 92,94984,572 10% Total deposits 729,487 728,5590% Core deposits* 350,215 346,8851% Trust preferred 22,47622,4760% Stockholders' equity79,25778,3991% Capital: Stockholders' tolerance to thoroughgoing assets 8.22% 8.27% Leverage proportion 11.02%10.69% Risk based cardinal ratios: Tier 112.28%11.63% Total Capital 13.09%12.41% Performance Ratios: Cost of funds2.77% 2.96% 4.42% Deposit rate of funds2.69% 2.98% 4.21% Net concern line 3.48% 3.19% 3.33% Return on undistinguished assets 0.65% 0.51% 0.50% Return on general sum stockholders' equity7.76% 6.12% 6.29% Asset Quality Net charge-offs to normal loans unpaid 0.00% 1.73% Nonperforming assets to sum up period-end assets 1.65% 1.84% Allowance for credit losses to utter period-end loans 0.88% 0.85% Allowance for allowance losses to nonperforming loans 93% 215% Nonperforming assets to upper case and reserves 19% 20% At or for the Nine months ended % (in thousands, omit per appropriate 9/30/08 9/30/07Change amounts) Income Statement Data: Net tempt takings $21,844 $22,879 -5% Provision for loan losses 5,898 1,425 314% Noninterest receipts 2,173 2,155 1% Total revenues 24,01725,034 -4% Noninterest operating expenses 18,51715,766 17% Net income(56)5,308-101% Per Common Share Data: Net income: Basic $(0.01)$0.51-102% Net income: Diluted (0.01) 0.50-102% Weighted middling shares outstanding: Basic 10,46310,413 Diluted 11,23010,698 Balance Sheet Data: Total assets $964,732$1,040,119 -7% Loans (net) 764,245 832,983 -8% Allowance for loan losses 6,807 8,791 -23% Investment securities 92,94991,291 2% Total deposits729,487 769,889 -5% Core deposits*350,215 359,310 -3% Trust preferred22,47611,341 98% Stockholders' high-mindedness 79,25778,372 1% Capital: Stockholders' disinterestedness to amount to assets 8.22% 7.53% Leverage correlation 11.02% 9.16% Risk based funds ratios: Tier 1 12.28% 9.90% Total Capital 13.09%10.87% Performance Ratios: Cost of funds 3.08% 4.42% Deposit expense of funds 3.05% 4.22% Net regard scope 3.29% 3.31% Return on so so assets -0.01% 0.73% Return on commonplace perfect stockholders' disinterest -0.09% 9.21% Asset Quality Net charge-offs to ordinary loans outstanding1.27% 0.11% Nonperforming assets to add period-end assets 1.65% 2.45% Allowance for loan losses to reckon period-end loans 0.88% 1.04% Allowance for loan losses to nonperforming loans 93% 35% Nonperforming assets to ripsnorting and reserves 19% 29% * Core deposits count out certificates of put Republic First Bancorp, Inc. Average Balances and Net Interest Income (unaudited) For the For the three months ended three months ended September 30, 2008June 30, 2008 Interest Interest Average Income/ Yield/ Average Income/ Yield/ Balance Expense Rate Balance Expense Rate Federal funds sold and other interest- earning assets$8,568 $45 2.09% $10,618 $58 2.20% Securities 92,525 1,334 5.77%82,392 1,167 5.67% Loans receivable 775,642 12,208 6.26% 797,233 12,160 6.13% Total interest-earning assets 876,735 13,587 6.17% 890,243 13,385 6.05% Other assets 57,371 55,336 Total assets $934,106 $945,579 Interest-bearing liabilities: Demand-non provoke relevancy $71,990 $74,126 Demand interest-bearing31,090 $68 0.87%31,236 $69 0.89% Money deal in & savings240,554 1,625 2.69% 211,281 1,371 2.61% Time deposits 381,820 3,216 3.35% 441,069 4,169 3.80% Total deposits725,454 4,909 2.69% 757,712 5,609 2.98% Total interest-bearing deposits 653,464 4,909 2.99% 683,586 5,609 3.30% Other borrowings 122,709 1,005 3.26% 101,186 715 2.84% Total interest-bearing liabilities $776,173 $5,914 3.03% $784,772 $6,324 3.24% Total deposits and other borrowings 848,163 5,914 2.77% 858,898 6,324 2.96% Non interest-bearing liabilities7,3938,532 Shareholders' fair-mindedness 78,550 78,149 Total liabilities and shareholders' equity$934,106 $945,579 Net vigorish income$7,673 $7,061 Net capture spread3.14%2.81% Net investment margin3.48%3.19% For the For the three months ended nine months ended September 30, 2007September 30, 2008 Interest Interest Average Income/ Yield/ Average Income/ Yield/ Balance Expense Rate Balance Expense Rate Federal funds sold and other interest- earning assets $10,817$139 5.10% $10,478 $199 2.54% Securities89,042 1,399 6.28%87,5063,814 5.81% Loans receivable 837,417 16,209 7.68% 796,782 37,821 6.34% Total interest-earning assets 937,276 17,747 7.51% 894,766 41,834 6.25% Other assets 40,513 51,915 Total assets$977,789 $946,681 Interest-bearing liabilities: Demand-non engage relevance $80,646 $76,487 Demand interest-bearing 35,009$109 1.24%34,760 $283 1.09% Money sell & savings 249,450 2,816 4.48% 219,8774,663 2.83% Time deposits358,192 4,750 5.26% 402,235 11,825 3.93% Total deposits 723,297 7,675 4.21% 733,359 16,771 3.05% Total interest-bearing deposits642,651 7,675 4.74% 656,872 16,771 3.41% Other borrowings 162,268 2,198 5.37% 125,1403,046 3.25% Total interest-bearing liabilities$804,919 $9,873 4.87% $782,012 $19,817 3.38% Total deposits and other borrowings885,565 9,873 4.42% 858,499 19,817 3.08% Non interest-bearing liabilities 14,2668,955 Shareholders' judiciousness 77,958 79,227 Total liabilities and shareholders' fairness $977,789 $946,681 Net piece gain $7,874 $22,017 Net infect distribution 2.64% 2.87% Net fee lip 3.33% 3.29% For the nine months ended September 30, 2007 Interest Average Income/Yield/ Balance Expense Rate Federal funds sold and other interest- earning assets $14,424$543 5.03% Securities 98,571 4,436 6.00% Loans receivable 819,243 47,166 7.70% Total interest-earning assets 932,238 52,145 7.48% Other assets 39,029 Total assets $971,267 Interest-bearing liabilities: Demand-non moment germaneness $78,502 Demand interest-bearing39,766$327 1.10% Money furnish & savings275,249 9,370 4.55% Time deposits 347,292 13,671 5.26% Total deposits740,809 23,368 4.22% Total interest-bearing deposits 662,307 23,368 4.72% Other borrowings 139,188 5,694 5.47% Total interest-bearing liabilities $801,495 $29,062 4.85% Total deposits and other borrowings 879,997 29,062 4.42% Non interest-bearing liabilities 14,184 Shareholders' fair play 77,086 Total liabilities and shareholders' equity$971,267 Net dispose income $23,083 Net intrigue proliferation 2.63% Net scrutiny frontier 3.31% The above tables are presented on a dues commensurate basis. Republic First Bancorp, Inc. Summary of Allowance for Loan Losses and Other Related Data (unaudited) Year Three months ended ended Nine months ended (dollar amounts in thousands) 9/30/08 6/30/08 9/30/07 12/31/07 9/30/08 9/30/07 Balance at beginning of patch $6,760 $10,156 $7,661 $8,058 $8,508 $8,058 Provisions charged to operating sacrifice 43 43 1,282 1,590 5,8981,425 6,803 10,199 8,943 9,648 14,4069,483 Recoveries on loans charged-off: Commercial 2- - 81 119 81 Tax refund loans8- - 283 77 256 Consumer-- - 2 21 Total recoveries 10- - 366 198 338 Loans charged-off: Commercial - (3,434) (152) (1,503) (7,778) (1,028) Tax refund loans-- - - -- Consumer (6) (5) - (3)(19) (2) Total charged-off(6) (3,439) (152) (1,506) (7,797) (1,030) Net charge-offs 4 (3,439) (152) (1,140) (7,599)(692) Balance at end of spell $6,807 $6,760 $8,791 $8,508 $6,807 $8,791 Net charge-offs as a proportion of typical loans noteworthy 0.00%1.73% 0.07% 0.14% 1.27%0.11% Allowance for loan losses as a interest of period-end loans 0.88%0.85% 1.04% 1.04% 0.88%1.04% Republic First Bancorp, Inc. Summary of Non-Performing Loans and Assets (unaudited) Sept. 30, June 30, March 31, Dec. 31, Sept. 30, 2008 2008 2008 2007 2007 Nonaccrual loans: Commercial verified stratum $6,369 $2,366$2,427 $14,757 $13,986 Construction-- -6,74710,902 Consumer and other918 780 640 776 547 Total nonaccrual loans7,2873,146 3,067 22,28025,435 Loans late due 90 days or more and still accruing -- -- - Renegotiated loans-- -- - Total nonperforming loans 7,2873,146 3,067 22,28025,435 Other trustworthy order owned 8,580 14,24516,3783,68142 Total nonperforming assets $15,867 $17,391 $19,445 $25,961 $25,477 Nonperforming loans to all-out loans 0.95%0.40% 0.38%2.71% 3.02% Nonperforming assets to out-and-out assets1.64%1.84% 1.95%2.55% 2.45% Nonperforming loan coverage 93% 215% 331% 38% 35% Allowance for loan losses as a piece of totality period-end loans 0.88%0.85% 1.27%1.04% 1.04% Nonperforming assets/capital gain allocation for loan losses 19% 20% 22% 29% 29%.
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