Republic First Bank Founder Harry Madonna Steps Down As Chairman; Andrew Cohen Named Replacement

(RTTNews) - Republic First Bancorp, Inc. (FRBK) announced on Wednesday that its founder Harry Madonna has stepped down as Chairman.

Andrew Cohen will be named as an independent Chairman of the board of directors, effective June 1.

Cohen is the Chief Investment Officer and Co-Founder of Cohen Private Ventures LLC, which is also the long term shareholder of the bank. He joined the board in 2017.

Madonna, who founded Republic in 1988 and led the organization to many years of growth, will continue to serve as a director.

On Tuesday, shares of Republic First closed at $1.325, down 10.47% or $0.1550 on the Nasdaq.