Republic First Bancorp in Philadelphia has a new CEO.
The $5.7 billion-asset company said in a press release that Tom Geisel was also named president, effective immediately. He was also added to First Republic’s board.
Geisel, who was recently president of corporate banking at Webster Financial, succeeded Harry Madonna, who had been serving as interim CEO.
The company also said the Mike Harrington has become its chief financial officer. He recently served as CFO of Bryn Mawr Trust.
Republic First said the new leadership “will continue to evaluate capital alternatives and drive profitable growth.”
“I’m excited to be part of the Republic First team at this critical moment,” Geisel said in the release.
“We believe the company has excellent opportunities to better serve our customers and create increased value for shareholders by focusing on strengthening the bank’s foundation and re-orienting our business strategy,” Geisel added. “We will leverage the strengths of the brand and create a diverse and digitally fluent commercial bank that provides an exceptional client and colleague experience.”
Madonna, who had been interim CEO since Vernon Hill stepped down in August, will remain chairman. Jonathan Hill, who has been interim CFO since October, will return to his role as controller.
Republic First said its strategic review is ongoing, though it hasn’t set a timetable for its conclusion.
The company, which has been sparring with a large investor group, is planning to hold its 2022 annual meeting next month.