Republic First Bancorp Inc. (FRBK) Tuesday reported second quarter net income of $1.0 million or $0.04 per share, compared to net loss of $480,000 or $0.02 per share last year.
Net interest income for the quarter grew to $8 million from $7.5 million in the prior year. Non interest income for the quarter increased to $2.5 million from $2.01 million a year earlier.
The Company recorded a loan loss provision of $0.5 million during the quarter, compared to $1.5 million a year ago.
Non-performing assets decreased 67% to $17 million as of June 30, 2012, compared to $52.0 million as of June 30, 2011.
For comments and feedback: editorial@rttnews.com