Republic First is unaffiliated with the troubled lender, First Republic, which recently received a $30B lifeline.
Investors have been mistakenly dumping their stakes in Republic First Bancorp this month – all because they confused it with the troubled lender First Republic.
“Republic Bank is very different; we DO NOT lend to start-ups and are not involved in Crypto,” Geisel added. “We lend primarily to established businesses. We lend against collateral and cash flow, we lend to profitable companies that can service the debt, and we typically have personal guarantees.”received a $30 billion rescue lifeline
Nevertheless, Republic First’s stock plunged by as much as 28% on March 17, the day First Republic’s rescue was announced.Republic First Bancorp. is headquartered in Pennsylvania.Republic First’s client base consists primarily of businesses and retail customers, while First Republic built its troubled business on lending to wealthy individuals.
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