Norcross blamed Republic’s failure to file financial reports from as far back as 2022 or schedule a promised shareholder meeting.
George Norcross III, New Jersey businessman seen here in 2019, along with his brother Philip and former TD Bank executive Gregory Braca are “terminating” an agreement to take over Republic First Bancorp.After battling for years to take over Republic First Bancorp, George Norcross III says he doesn’t want it after all.deal, if completed
With $6.3 billion in assets, Republic is the largest bank still based in Philadelphia, where most larger lenders have been sold to out-of-town banks. The Norcross group blamed Republic’s failure to file financial reports from as far back as 2022, or schedule a promised shareholder meeting.Republic, which operates around 30 branches, mostly in the city’s South Jersey and Pennsylvania suburbs, has enough capital and deposits to continue under its current strategic plan and is preparing the delayed financial statements, the company said in a statement., according to the Federal Deposit Insurance Corp. records.
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