Exhibit 99.1

Company Release – 1/29/15

First Priority Financial Corp. Reports Income Before Taxes of $3.0 Million, Up 26% From a Year Ago,

and Net Income of $2.1 Million in 2015

Malvern, Pa., January 29, 2016 – First Priority Financial Corp. (“First Priority” or the “Company”), parent of First Priority Bank, today reported an increased level of operating results for both the fourth quarter and the year ended December 31, 2015.

For the three months ended December 31, 2015, First Priority reported consolidated income before income taxes of $882 thousand, an increase of 7% compared to $828 thousand for the third quarter of 2015 and a 47% increase compared to $601 thousand earned in the fourth quarter of 2014. Net income for the three months ended December 31, 2015 increased 7% to $628 thousand, or $0.06 per basic and diluted common share, compared to $588 thousand, or $0.06 per basic and diluted common share in the third quarter of 2015, and increased 55% compared to $405 thousand, or $0.04 per basic and diluted common share in the fourth quarter of 2014, after preferred dividends totaling $212 thousand, $212 thousand and $165 thousand for each period, respectively.

For the year ended December 31, 2015, First Priority’s consolidated income before income taxes increased 26% to $3.05 million compared to $2.42 million for the same period of 2014. Net income for the year ended December 31, 2015 totaled $2.11 million, or $0.20 per basic and diluted common share after preferred dividends totaling $801 thousand. Net income for the year ended December 31, 2014, including a tax benefit totaling $4.50 million totaled $6.93 million, or $0.98 per basic and diluted common share after preferred dividends totaling $579 thousand paid during the period. During the third quarter of 2014, the Company reversed the valuation allowance related to net deferred tax assets and, accordingly, recognized a tax benefit in that quarter of $4.71 million.

David E. Sparks, Chairman and CEO, commented: “2015 was a sound and positive year for First Priority as the Company achieved the following: (1) listed FPFC’s stock on the OTCQX marketplace and began trading in March, 2015; (2) completed a $9.5 million subordinated debt financing, of which $6.0 million was utilized in January 2016 to begin redeeming a portion of the Company’s outstanding preferred stock; (3) exhibited strong growth in core operating results as profitability continued to improve; (4) reflected improved asset quality as the ratio of non-performing loans to total loans declined to 0.47% and non-performing assets as a percentage of total assets decreased to 0.65% as of the end of 2015, while the allowance for loan losses as of this same date was strengthened to 0.68% of total loans; and (5) achieved loan growth of 9.1% for the year as total loans outstanding reached $409 million and total assets were $547 million as of the end of 2015.”

Balance Sheet and Capital Highlights:

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Asset Quality Highlights:

Operating Results Highlights:

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About First Priority

First Priority Financial Corp. is a bank holding company, which along with its bank subsidiary, First Priority Bank, is headquartered in Malvern, Pennsylvania. First Priority Bank, with $546 million in assets, was chartered in November, 2005 and opened for business to the public in January, 2006 as a full service commercial bank providing personal and business lending, deposit products and wealth management services through its eight offices in Berks, Bucks, Chester and Montgomery Counties, Pennsylvania. The common stock of First Priority Financial Corp. trades on the OTCQX marketplace, under the symbol FPBK. First Priority’s website can be accessed at http://www.fpbk.com.

This release contains forward-looking statements, which can be identified by reference to a future period or periods or by the use of words such as “would be,” “will,” “estimate,” “project,” “believe,” “intend,” “anticipate,” “plan,” “seek,” “expect,” and similar expressions or the negative thereof. These forward-looking statements include: statements of goals, intentions and expectations; statements regarding prospects and business strategy; statements regarding asset quality and market risk; and estimates of future costs, benefits and results. These forward-looking statements are subject to significant risks, assumptions and uncertainties, including, among other things, the following: (1) general economic conditions, (2) competitive pressures among financial services companies, (3) changes in interest rates, (4) deposit flows, (5) loan demand, (6) changes in legislation or regulation, (7) changes in accounting principles, policies and guidelines, (8) litigation liabilities, including costs, expenses, settlements and judgments and (9) other economic, competitive, governmental, regulatory and technological factors affecting the Company’s operations, pricing, products and services. Because of these and other uncertainties, our actual future results may be materially different from the results indicated by these forward-looking statements. We have no obligation to update or revise any forward-looking statements to reflect any changed assumptions, unanticipated events or any changes in the future.

The Company cautions that the foregoing list of important factors is not exclusive. Readers are also cautioned not to place undue reliance on these forward-looking statements, which reflect management’s analysis only as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company to reflect events or circumstances occurring after the date of this press release.

For a discussion of the assumptions, risks and uncertainties related to our business, you are encouraged to review our filings with the Securities and Exchange Commission (“SEC”), including our most recent annual report on Form 10-K, as supplemented by our quarterly or other reports subsequently filed with the SEC.

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First Priority Financial Corp.

Condensed Consolidated Statements of Operations

(Unaudited, in thousands, except per share data)

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First Priority Financial Corp.

Condensed Consolidated Balance Sheets

(Unaudited, in thousands)

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First Priority Financial Corp.

Selected Financial Data

(Unaudited, dollars in thousands, except per share data)

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