Republic First Bancorp Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported total interest income of $9,423,000 against $9,556,000 for the same period last year. Net interest income was $8,017,000 against $7,489,000 for the same period last year. Income before income taxes was $850,000 against loss before income taxes of $13,480,000 for the same period last year. Net income was $904,000 or $0.03 per diluted share against net loss of $23,078,000 or $0.89 per diluted share for the same period last year.

For the year, the company reported total interest income of $38,260,000 against $38,273,000 for the same period last year. Net interest income was $31,894,000 against $30,074,000 for the same period last year. Income before income taxes was $3,470,000 against loss before income taxes of $16,511,000 for the same period last year. Net income was $3,614,000 or $0.14 per diluted share against net loss of $24,702,000 or $0.95 per diluted share for the same period last year. Tangible book value per share as of December 31, 2012 was $2.69. Earnings improved substantially on a year to year basis as the loan loss provision and other credit costs decreased due to the significant improvement in asset quality.

The company reported net charge-offs of $1,006,000 for the fourth quarter of 2012 against $10,630,000 for the same period last year.