Republic First Bancorp, the parent company of Republic Bank, named chairman Vernon W. Hill CEO of the holding company and the bank.
Harry D. Madonna, the founder of the bank, will remain as president and chairman emeritus of Republic First Bancorp.
Hill, the founder and former chairman of Commerce Bancorp, joined Republic Bank in 2008. Since then, he has led the growth of the bank from $700 million in assets to $5 billion as of Dec. 31, 2020. Republic recently originated $680 million in Paycheck Protection Program loans to nearly 5,000 businesses.
“Since joining the Republic Bank team 13 years ago, we’ve transformed a traditional commercial bank into a customer-centric retail institution that embraces service, convenience and innovation, creating fans not customers,” Hill said. “Harry played a critical role in that, and I’m pleased he’ll continue to be a part of our future success. This is only the beginning for Republic and the legendary banking experience we provide to our customers. I’m confident that the best is yet to come.”
“When I founded Republic Bank in 1988, I couldn’t have imagined all that we’ve accomplished,” Madonna said. “It has been the honor of my life to serve as CEO and work alongside the most talented team in the business to change the way people think about banking. I’m particularly thankful to Vernon for everything he has done and know his passion for our brand will continue to push Republic Bank to new heights. I look forward to staying on as president and chairman emeritus and to all that comes next.”
