Comparing the current results to its competitors, Republic First Bancorp Inc reported Revenue increase in the 2 quarter 2022 by 4.98 % year on year. The revenue growth was below Republic First Bancorp Inc's competitors' average revenue growth of 7.19 %, achieved in the same quarter.
Republic First Bancorp Inc Net Income in the 2 quarter 2022 fell year on year by -74.52%, while most of its competitors have experienced a contraction in net income by -13.03 %.
Republic First Bancorp Inc's Comment on Competition and Industry Peers
We face substantial competition from other financial institutions in our service
area. Competitors include Wells Fargo, Citizens, PNC, Santander, TD Bank and Bank
of America, as well as many local community banks. In addition, we compete directly
with savings banks, savings and loan associations, finance companies, credit unions,
mortgage brokers, insurance companies, securities brokerage firms, mutual funds,
money market funds, private lenders and other institutions for deposits, commercial
loans, mortgages and consumer loans, as well as other services. Competition among
financial institutions is based upon a number of factors, including the quality
of services rendered, interest rates offered on deposit accounts, interest rates
charged on loans and other credit services, service charges, the convenience of
banking facilities, locations and hours of operation and, in the case of loans
to larger commercial borrowers, applicable lending limits. Many of the financial
institutions with which we compete have greater financial resources than we do,
and offer a wider range of deposit and lending products.
Overall company revenue, grew less, than total company revenues, at 4.98 % and company approximately market share, declined to 0.02 %. << More on FRBK Market Share.
*Market share is calculated based on total revenue.
Publicly Traded Peers of Republic First Bancorp Inc
Peoples Financial Corporation Share Performance
+3.90%
30 Days
Peoples Financial Corporation
Profile
Peoples Financial Corp operates as a financial holding company, providing a range of banking and financial services. Their business model revolves around offering commercial and personal banking products, such as loans, deposits, and wealth management solutions to individuals, businesses, and institutions. They focus on establishing long-term relationships with their customers and delivering exceptional service to meet their financial needs.
Norwood Financial Corp is a banking company that primarily focuses on providing various financial services to individuals, businesses, and institutions. Their business model centers around generating revenue through interest income from loans, fees from deposit accounts, and offering other banking products and services to their customers.
Northern Trust Corporations business model focuses on providing asset management, wealth management, investment services, and banking solutions tailored for institutional clients and high-net-worth individuals. The company emphasizes personalized service, risk management, and investment expertise.
National Bankshares Inc operates as the holding company for National Bank, providing banking services to individuals, businesses, and organizations in its local communities. The company primarily generates revenues through interest income from loans and investments, as well as service charges and fees related to its deposit and lending products. National Bankshares Inc aims to maintain a strong and stable financial position by offering competitive banking solutions and fostering long-term relationships with its customers.
MVB Financial Corp operates as a financial holding company that provides a range of banking products and services. It primarily focuses on serving business customers, including small and medium-sized businesses, through its various banking subsidiaries.
Sources:
Republic First Bancorp Inc’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: publicly traded companies.
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