People: Republic First Bancorp Inc (FRBK.OQ)
Mr. Vernon W. Hill, II is Chairman of the Board of Republic First Bancorp, Inc. Mr. Hill was previously the chairman, chief executive officer, and president of Commerce Bancorp, Inc. which he founded in 1973. Under his direction, Commerce Bank grew from one location in Marlton, N.J. to more than 450 branches along the east coast of the U.S. with over $50 billion in assets before its sale in 2007. He is often credited with reinventing the concept of American banking. His book titled "Fans Not Customers: How to Create Growth Companies in a No Growth World" is based on the concept that it is better to have fans rather than customers and that businesses should compete on service instead of price. Mr. Hill is also the chairman and founder of Metro Bank in the U.K., Britain's first new High Street bank in over 100 years. Since opening its first branch in 2010, Metro Bank has grown to 48 branches, $12 billion in assets, and over 900,000 customer accounts in just six years. Mr. Hill is also the chairman of Petplan, USA, the largest pet health insurer in the world. He also is a partner in a real estate development firm which has developed numerous shopping centers and retail locations. Mr. Hill's experience in banking for over forty years provides the Company with leadership skills and knowledge required to successfully operate and grow financial institutions. His experience in real estate and other businesses also offers the board valuable insight to execute its expansion strategy.
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