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BUSINESS
May 22, 2016 | By Joseph N. DiStefano, Staff Writer
Clanking, flashing coin-counting machines, pioneered locally by Vernon Hill 's old Commerce Bank when it worked to make money fun, have lately vanished from Commerce successor TD Bank and rival PNC Bank , the biggest lenders in New Jersey and Pennsylvania, respectively. Daily News columnist Stu Bykofsky's 2010 exposé confirming that machines like TD's Penny Arcade aren't always to-the-cent accurate didn't kill them off. But a spate of recent local newspaper and TV reviews from Boston to Pittsburgh - what passes for investigative journalism these days!
BUSINESS
October 26, 1988 | The Philadelphia Inquirer / GERALD S. WILLIAMS
Republic Bank, the city's newest, opened for business yesterday at its only office, at 1515 Market St. The state-chartered bank is capitalized at $5.6 million. It is a member of the MAC network of automated-teller machines, as well as the Federal Deposit Insurance Corp. and the Federal Reserve. Rolf A. Stensrud, the bank's president, joined Chamber of Commerce officials, legislators and city representatives at opening ceremonies.
NEWS
December 22, 2011
Republic First Bancorp Inc. sold $59 million worth of commercial real estate loans to a single investor for net proceeds of $30.6 million, the Philadelphia parent company of Republic Bank said. The loans and foreclosed properties had already been written down to $45.1 million. The sale will result in a $14.5 million loss in the quarter ending this month. Republic, which said the sale substantially cleaned up its balance sheet, had $952.8 million in assets and $833.3 million in deposits on Sept.
BUSINESS
March 20, 1988 | By Janet L. Fix, Inquirer Staff Writer
It was a Texas-size gamble. Only nine months ago, a feud between cross-town Dallas rivals ended when two of Texas' biggest banks merged to became First RepublicBank Corp., forming the state's biggest, and the nation's 13th-largest, banking company. Many Texans hailed the merger of RepublicBank Corp. and troubled InterFirst Corp. It was a matter of pride: Better to marry than to fail or be gobbled up by an "infidel bank from the East," as one observer explained it. "The merger was like dinosaurs mating," said Bill Carden, a bank consultant in Waco, Texas.
NEWS
March 13, 2013
A serial bandit suspected in five area bank robberies struck again in Center City on Monday, the FBI said. Around 12:20 p.m., the man entered the Republic Bank at 1818 Market St. and gave the teller a demand note. He then fled with an undisclosed amount of cash, an FBI spokeswoman said. The robber, described as a slender black man in his late 30s to early 40s with "scruffy" facial hair, is suspected in at least five other stickups this year. One was at the same Republic Bank branch on Feb. 19. Surveillance photos from Monday's heist show him wearing a dark coat, dark knit cap, jeans, and light brown work boots, authorities said.
NEWS
March 12, 2013 | Breaking News Desk, PHILLY.COM
A suspected serial bank robber struck for the sixth time this afternoon making off with an undetermined amount of cash from a Center City bank branch. The bandit strode into the Republic Bank at 1818 Market Street about 12:20 p.m. and handed a teller a demand note. He collected cash and fled on foot, police said. Police believe the bank robber is responsible for five other bank jobs, including a previous robbery at the same Republic Bank on February 19, police said. He is described as a black male, about 40 years old, approximately 6-feet tall with a slender build and scruffy facial hair.
BUSINESS
March 7, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
At its peak in the mid-2000s, Vernon Hill's Commerce Bank was adding its boxy, sunlit branches up and down the East Coast at the rate of one a week. On Saturday, Hill was back, in Cherry Hill, near his Moorestown mansion, opening a new glass-walled Republic Bank branch that looks like the next generation of Commerce - or Metro Bank Plc , his fast-growing operation in England. Seven years after he stepped down as Commerce CEO amid a dispute with regulators - and six years after Canada's Toronto-Dominion Bank paid $8.5 billion for Marlton-based Commerce and its 460 branches and $48 billion in loans and other assets, then scrapped the big red C signs and replaced them with white-on-green TD placards - Hill sees new opportunity in his old front yard.
NEWS
December 18, 2014
THE WOLF IS no longer at Golden Sunrise's door, thanks to a generous gesture by Philadelphia-based Republic Bank. The sole survivor in the Mummers' Fancy Division, Golden Sunrise had fallen on hard financial times. Its cash reserves were as low as a caterpillar with fallen arches and in its South Philadelphia clubhouse/warehouse the roof was leaking, a catastrophe-in-the-making for decades' worth of costumes, some of which are patiently recycled to save money. All this was reported in my Nov. 7 column, along with Golden Sunrise's efforts to raise $28,000 (enough to get it on the street Jan. 1 - which was never really in doubt, although it looked as if it would be the last strut - and also enough to get it on the street a year later)
NEWS
February 18, 2011 | By WENDY RUDERMAN, rudermw@phillynews.com 215-854-2860
Leslie Reyes cringes each time she hears a knock on her front door. She dreads opening her mail. Ever since her Kensington home went into foreclosure in May 2009 and was later listed for sheriff sale, Reyes has endured a steady rap-rap-rapping of shady property investors at her door. She's been peppered with threatening letters from the bank and "pay or quit" notices from bank-appointed rent collectors. So far, Reyes has beaten back the bombardment, and she's determined to keep her Emerald Street home.
NEWS
August 17, 2012 | BY MORGAN ZALOT, Daily News Staff Writer
A PHILADELPHIA MAN was federally indicted Thursday for allegedly robbing a Wawa employee at gunpoint for a pack of cigarettes and for robbing a Northeast Philadelphia bank twice in six months. If convicted, Christopher Cedres, 37, faces at least seven years in prison, five years of supervised release and a fine of $1.5 million. The grand jury indictment alleges that Cedres robbed the Republic Bank at Cottman and Frankford avenues on June 21, 2011, took off with $559 and hit the same bank again on Dec. 7, making off with $560.
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BUSINESS
May 22, 2016 | By Joseph N. DiStefano, Staff Writer
Clanking, flashing coin-counting machines, pioneered locally by Vernon Hill 's old Commerce Bank when it worked to make money fun, have lately vanished from Commerce successor TD Bank and rival PNC Bank , the biggest lenders in New Jersey and Pennsylvania, respectively. Daily News columnist Stu Bykofsky's 2010 exposé confirming that machines like TD's Penny Arcade aren't always to-the-cent accurate didn't kill them off. But a spate of recent local newspaper and TV reviews from Boston to Pittsburgh - what passes for investigative journalism these days!
NEWS
January 7, 2015
ISSUE | JOE-PA LEGACY Keeping score isn't what counts here The outrage shown by Penn State alumni over the supposedly unfair treatment of Joe Paterno indicates that their priorities are out of line ("Paterno dispute leaves a growing rift," Dec. 28). Paterno was a successful football coach, no more and no less. It was demonstrated that he - along with other higher-ups at the university - failed to take necessary steps to stop now-convicted predator Jerry Sandusky. It sickens me to think that many in the Penn State community seem to care more about Paterno's win total than about Sandusky's young victims.
NEWS
December 18, 2014
THE WOLF IS no longer at Golden Sunrise's door, thanks to a generous gesture by Philadelphia-based Republic Bank. The sole survivor in the Mummers' Fancy Division, Golden Sunrise had fallen on hard financial times. Its cash reserves were as low as a caterpillar with fallen arches and in its South Philadelphia clubhouse/warehouse the roof was leaking, a catastrophe-in-the-making for decades' worth of costumes, some of which are patiently recycled to save money. All this was reported in my Nov. 7 column, along with Golden Sunrise's efforts to raise $28,000 (enough to get it on the street Jan. 1 - which was never really in doubt, although it looked as if it would be the last strut - and also enough to get it on the street a year later)
ENTERTAINMENT
November 29, 2014 | By Monica Peters, For The Inquirer
Get ready to boogie this weekend when the Hip Hop Fundamentals dance troupe performs and instructs at the Please Touch Museum. Learn about the history of hip-hop while dancing and grooving. You'll also learn about dance styles including break dancing. The troupe uses hip-hop as a vehicle to teach academics and break dancing to inspire positive change in youth.   Hip Hop Fundamentals, noon and 2 p.m. Friday, Saturday, and Sunday at Please Touch Museum, Memorial Hall, Fairmount Park, 4231 Avenue of the Republic.
BUSINESS
April 29, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
Moody's Investors Service last week rated Pennsylvania 's latest state bond borrowings Aa2 - better than New Jersey's but below Delaware's and other "highest-quality" states' - and cited the commonwealth's slower-than-average economic growth, along with its politicians' chronic record of voting public workers generous retirement pensions but failing to pay for them, as reasons not to rank it higher. How slow is it out there? Wall Street bank-watchers say lending has been limp for Philadelphia-area banks lately, not the best sign for future hiring and growth.
BUSINESS
March 7, 2014 | By Joseph N. DiStefano, Inquirer Staff Writer
At its peak in the mid-2000s, Vernon Hill's Commerce Bank was adding its boxy, sunlit branches up and down the East Coast at the rate of one a week. On Saturday, Hill was back, in Cherry Hill, near his Moorestown mansion, opening a new glass-walled Republic Bank branch that looks like the next generation of Commerce - or Metro Bank Plc , his fast-growing operation in England. Seven years after he stepped down as Commerce CEO amid a dispute with regulators - and six years after Canada's Toronto-Dominion Bank paid $8.5 billion for Marlton-based Commerce and its 460 branches and $48 billion in loans and other assets, then scrapped the big red C signs and replaced them with white-on-green TD placards - Hill sees new opportunity in his old front yard.
BUSINESS
December 24, 2013
The Coriell Institute for Medical Research , an independent, nonprofit biomedical research center founded in 1953 and based in Camden, hired Andrew MacKnight as chief strategy officer. He had been vice president of clinical operations at inVentiv Health Clinical. Hemispherx Biopharma Inc. , an advanced specialty pharmaceutical company in Philadelphia, named Thomas Equels chief financial officer and Adam Pascale chief accounting officer. Equels is executive vice chairman, secretary, and general counsel for the company.
NEWS
March 13, 2013
A serial bandit suspected in five area bank robberies struck again in Center City on Monday, the FBI said. Around 12:20 p.m., the man entered the Republic Bank at 1818 Market St. and gave the teller a demand note. He then fled with an undisclosed amount of cash, an FBI spokeswoman said. The robber, described as a slender black man in his late 30s to early 40s with "scruffy" facial hair, is suspected in at least five other stickups this year. One was at the same Republic Bank branch on Feb. 19. Surveillance photos from Monday's heist show him wearing a dark coat, dark knit cap, jeans, and light brown work boots, authorities said.
NEWS
March 12, 2013 | Breaking News Desk, PHILLY.COM
A suspected serial bank robber struck for the sixth time this afternoon making off with an undetermined amount of cash from a Center City bank branch. The bandit strode into the Republic Bank at 1818 Market Street about 12:20 p.m. and handed a teller a demand note. He collected cash and fled on foot, police said. Police believe the bank robber is responsible for five other bank jobs, including a previous robbery at the same Republic Bank on February 19, police said. He is described as a black male, about 40 years old, approximately 6-feet tall with a slender build and scruffy facial hair.
NEWS
February 18, 2013 | By John P. Martin, Inquirer Staff Writer
Philadelphia has never really been a bank-robbery town. Some cities have that reputation, deserved or not. Think Los Angeles, home to spectacularly violent heists, a region that once logged 2,600 bank robberies in a year. Philadelphia bandits are not known for flash or firepower, even smarts. Many are drug addicts, clumsily picking targets in their own neighborhoods, hiding under a cap or hoodie, and brandishing nothing more than a nasty note. Most get caught. Still, last week was an unusually busy stretch in an unusually busy season for unauthorized withdrawals.
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