REPUBLIC FIRST BANCORP INC: auditor change — Republic First Bancorp dismisses Crowe, flags material weaknesses and going-concern uncertainty

REPUBLIC FIRST BANCORP INC

Audit committee dismissed Crowe effective Feb 21, 2024 citing material weaknesses in internal controls.
Crowe reported seven material weaknesses including control environment, CECL adoption, core system conversion, and deposit operations.
Crowe identified going concern and subsequent events (investment securities impairment, CECL changes) as matters impacting financial statements.
Company appointed Wolf & Company as new auditor for fiscal years 2022, 2023, and 2024; 2022 10-K not yet filed.

item 4.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

REPUBLIC FIRST BANCORP INC engaged Wolf & Company, P.C. as its auditor.

Action: engagement
Auditor: Wolf & Company, P.C.

Exact text from the filing

On February 21, 2024, the Audit Committee approved the appointment of Wolf as the Company's independent registered public accounting firm for the fiscal years ended Dece

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Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

REPUBLIC FIRST BANCORP INC dismissed Crowe LLP as its auditor.

Action: dismissal
Auditor: Crowe LLP

Exact text from the filing

On February 21, 2024, the Audit Committee (the "Audit Committee") of the Board of Directors of Republic First Bancorp, Inc. (the "Company") approved the dismissal of Crowe LLP ("Crowe") as the Company's independent registered public accounting firm, effective as of February 21, 2024.

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Source: SEC EDGAR

accession 0001437749-24-005725

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