REPUBLIC FIRST BANCORP INC: going-concern / distress — Republic First Bancorp files for Chapter 11 bankruptcy; CEO and CFO resign

REPUBLIC FIRST BANCORP INC

Filed voluntary Chapter 11 petition on Aug 27, 2024 in Eastern District of Pennsylvania.
Bank subsidiary was closed by regulators in April 2024; FDIC appointed receiver.
CEO Thomas X. Geisel resigned effective Aug 27, 2024; CFO Michael Harrington also resigned.
Filing triggers defaults under debt indentures, but collection actions stayed by bankruptcy.

item 1.03 item 2.04 item 5.02

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Michael Harrington

Chief Financial Officer

REPUBLIC FIRST BANCORP INC

Effective: 2024-08-27
Filed: September 5, 2024, 7:59 PM ET

On August 27, 2024, Thomas X. Geisel resigned from his position as Chief Executive Officer of the Company, and Michael Harrington resigned from his position as Chief Financial Officer of the company.

Departed

Thomas X. Geisel

Chief Executive Officer

REPUBLIC FIRST BANCORP INC

Effective: 2024-08-27
Filed: September 5, 2024, 7:59 PM ET

On August 27, 2024, Thomas X. Geisel resigned from his position as Chief Executive Officer of the Company, and Michael Harrington resigned from his position as Chief Financial Officer of the company.

Key facts

Extracted from this filing and checked against the source text.

Distress & Bankruptcy SEC 8-K Item 1.03 confidence 0.9

REPUBLIC FIRST BANCORP INC entered chapter 11 in United States Bankruptcy Court for the Eastern District of Pennsylvania (petition 2024-08-27).

Proceeding: chapter 11
Court: United States Bankruptcy Court for the Eastern District of Pennsylvania
Petition: 2024-08-27

Exact text from the filing

On August 27, 2024, the Company filed a voluntary petition in the United States Bankruptcy Court for the Eastern District of Pennsylvania (the “Bankruptcy Court”) for relief under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code”), thereby commencing a case under Chapter 11 of the Bankruptcy Code (the “Chapter 11 Case”).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Harrington resigned as Chief Financial Officer at REPUBLIC FIRST BANCORP INC.

Action: resigned
Role: Chief Financial Officer

Exact text from the filing

On August 27, 2024, Thomas X. Geisel resigned from his position as Chief Executive Officer of the Company, and Michael Harrington resigned from his position as Chief Financial Officer of the company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Thomas X. Geisel resigned as Chief Executive Officer at REPUBLIC FIRST BANCORP INC.

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

On August 27, 2024, Thomas X. Geisel resigned from his position as Chief Executive Officer of the Company, and Michael Harrington resigned from his position as Chief Financial Officer of the company.

View on SEC.gov

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Source: SEC EDGAR

accession 0001104659-24-097413

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