Harry Madonna is back at the helm of Republic First Bancorp in Philadelphia.
The $5.7 billion-asset company said in a press release Tuesday that Madonna was named interim CEO, effective immediately. Madonna, who was previously named chairman, succeeded Vernon Hill Jr., who resigned.
Berry Spevak also resigned from the company’s board. Harris Wildstein was reappointed as lead independent director.
“We are entering a critical phase in the evolution of the institution and I and the board are eager to return to our primary tasks of optimizing the company’s and the bank’s performance and providing stability and value to all of our stakeholders,” Madonna said in the release.
Madonna served as the company’s CEO from 2001 to 2021, when Hill took over.
Hill announced in July that he would step down on Aug. 8 after a contentious battle with several directors and two investor groups.