Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective August 31, 2009, Frank A. Cavallaro has been appointed as Senior Vice President and Chief Financial Officer of Republic First Bancorp, Inc., referred to as the "Company," in which role he will be the principal financial officer and principal accounting officer of the Company. Prior to joining the Company, Mr. Cavallaro, age 40, served as Vice President, Finance Department for Commerce Bank, N.A. and its successor TD Bank, N.A. from May, 2003 to August, 2009. Mr. Cavallaro will receive an initial base salary of $160,000 per year and, subject to approval of the Company's compensation committee, an initial grant of options to purchase 7,500 shares of the Company's common stock at its fair market value on the date of grant. He will be entitled to participate in the Company's cash and equity bonus programs, and the other benefit plans available generally to the Company's employees.

As a result of Mr. Cavallaro's appointment, Edward J. Ryan, who has served since November 7, 2008 as the acting Chief Financial Officer of the Company, will no longer act as the principal financial officer or principal accounting officer of the Company.