Republic First Bancorp, Inc. announced that Andrew B. Cohen has been elected independent Chairman of the Company's Board of Directors, effective June 1, 2023. Mr. Cohen is the Chief Investment Officer and Co- Founder of Cohen Private Ventures LLC, a long-term shareholder of Republic. He joined the Board in 2017.Mr. Cohen possesses strong capital markets acumen, corporate governance experience, and institutional knowledge of Republic and the broader banking sector.

In addition, he brings the perspectives of a sizable shareholder to the chairmanship. The Board determined that Mr. Cohen was the right independent director to assume the chairmanship as Republic navigates a once-in-a-generation sector dislocation, strengthens its governance and takes strategic actions to transform the Bank. With the election of Mr. Cohen, Harry D. Madonna has stepped down as Chairman.

Mr. Madonna, who founded Republic in 1988 and led the organization to many years of growth, will continue to serve as a director. The Board wants to take the opportunity to thank Mr. Madonna for his years of leadership and ongoing service to the Company's customers, employees, community partners and shareholders.