Republic First Bancorp reports Q1 EPS (15c) vs. 8c last year

Q1 provision for credit losses was $433K, up $515K from a credit to provision in 1Q22. Net interest income was $23,993 in Q1 vs. $36,140 last year. "Our strong community banking brand, ingrained commitment to customers and focus on relationship banking have allowed us to largely maintain steady deposit levels amid a period of uncertainty and volatility in the banking sector," said CEO Thomas Geisel. "We are highly focused on executing our strategy to restore profitability, improve capital levels and enhance shareholder value – and are seeing signs of progress as we move through the company’s legacy headwinds. The results aren’t where we want them to be yet, but I am proud of our colleagues’ commitment to Republic’s customers and their ongoing efforts to weather the current environment and lay the foundation for a successful future."