Tim Stuhldreher covers energy, banking and finance and general assignments. He has been with the Central Penn Business Journal since 2009. 
The firms’ boards voted to terminate the November 2008 agreement “because of uncertainties over regulatory approval,” Republic First said in a statement late today.
The closing, originally set for completion in April 2009, had been postponed three times while the firms awaited approval from regulators. Approval was not expected by the current deadline, March 31, the firms said.
Jason Kirsch, spokesman for Metro, confirmed the deal was off but said he could not disclose further details.
Republic First, which operates 12 Republic First Bank branches, would have been absorbed into Metro in the all-stock deal valued at $114 million. The combined institution would have had $3.2 billion in assets and 45 branches.
Calls to Republic First seeking additional comment were not immediately returned.
Metro Bancorp, formerly Pennsylvania Commerce Bancorp Inc., is the parent company of Metro Bank. It trades on Nasdaq under the ticker symbol METR. Republic First trades on Nasdaq under the ticker symbol FRBK.
