The Philadelphia based bank, Republic First Bancorp, Inc. which has the stock symbol FRBK ( and does business as “Republic Bank”) is being mistaken for First Republic Bank (FRC) by people who happen to have access to stock broker apps (or maybe even stock brokers?) and have been selling off Republic First’s stock. This has caused Republic First Bancorp’s President and CEO Thomas X. Geisel to issue a public statement:
As you may be aware, two financial institutions were closed by federal regulators over the weekend. Amid everything going on, Republic Bank would like to make very clear: we are Republic Bank, Inc. (FRBK-Red/Blue Logo); we are NOT First Republic Bank (FRC-Green Logo).Source: Press Release from Republic First Bancorp Inc.
Some clues for the clueless:
#1 Even though both banks have the words “Republic” and “First” in their full names, they aren’t in the same order
#2 The logos are different (both in design and color)
#3 They have different stock symbols: Republic First Bank’s symbol is “FRBK” while First Republic Bank’s symbol is “FRC”
#4 None of these banks have headquarters in same cities, nor even in the same state
#5 An investment in taking the time to actually read what shares you are trading would provide a better return than destroying the stock value of an unrelated bank
A Third Bank
Potentially adding to the confusion is the fact that there is a third bank, named Republic Bank & Trust Company (RBCAA) based in Louisville, Kentucky. They also do business as “Republic Bank”. They are in no relation Republic First Bancorp (FRBK) or First Republic Bank(FRC).
For The Record:
We at Banking Cat hold the position that investing should be accessible. This unfortunately is one of those things that happens when even the clueless can make trades.
Republic First Bankcorp’s official Press Release: click here