Republic First Bancorp, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported total interest income of $14.636 million against $12.406 million a year ago. This increase is primarily attributable to higher net interest income as a result of the strong growth in interest-earning assets over the last twelve months driven by the Company's "Power of Red is Back" expansion program. Net interest income was $12.690 million against $10.987 million a year ago. Income before benefit for income taxes was $1.447 million against $0.781 million a year ago. Net income $1.497 million or $0.03 per basic and diluted share against $0.790 million or $0.02 per basic and diluted share a year ago.

For the year, the company reported total interest income of $54.227 million against $45.436 million a year ago. Net interest income was $47.364 million against $40.055 million a year ago. Income before benefit for income taxes was $4.826 million against $2.407 million a year ago. Net income $4.945 million or $0.12 per diluted share against $2.433 million or $0.06 per diluted share a year ago. Book value per common share increased to $3.79 as of December 31, 2016 compared to $3.00 as of December 31, 2015.

For the quarter, the company reported net charge-offs of $0.298 million against $0.120 million a year ago.