Exhibit 99.1

Company Release – 4/27/16

First Priority Financial Corp. Reports a 27% Increase in First Quarter 2016 Net Income

Vs. First Quarter 2015.

Malvern, Pa., April 27, 2016 – First Priority Financial Corp. (“First Priority” or the “Company”), parent of First Priority Bank, today reported financial results for the first quarter ended March 31, 2016, including a 27% increase in net income and a 24% increase in income before taxes; both compared to the first quarter of 2015.

For the three months ended March 31, 2016, First Priority reported consolidated net income of $531 thousand, or $0.05 per basic and diluted common share, a 27% increase compared to $417 thousand, or $0.04 per basic and diluted common share in the first quarter of 2015, after preferred dividends of $177 thousand and $166 thousand for each period, respectively. Income before income taxes totaled $772 thousand for the three months ended March 31, 2016, a 24% increase compared to $622 thousand earned in the first quarter of 2015. During the fourth quarter of 2015, net income was $628 thousand, or $0.06 per basic and diluted common share after preferred dividends totaling $212 thousand.

David E. Sparks, Chairman and CEO, commented: “We are pleased to report continuing improvement of operating results during the first quarter of 2016. In the first quarter, we completed the previously disclosed redemption of $6 million of preferred stock and announced plans to close our Plumstead Office during the second quarter of 2016. The office did not meet customer activity requirements and the closure will result in approximately $200 thousand in annualized savings.” Sparks continued: “Our balance sheet remained strong with total assets of $512 million, loans outstanding totaling $409 million and total deposits of $409 million. During the quarter, non-interest bearing deposits grew $9.2 million, or 19.9%, reflecting the results of expanding our cash management and mobile banking efforts. The underlying credit quality of our loan portfolio also continues to remain strong as reflected in non-performing loans and non-performing assets ratios, which were 0.48% of total loans and 0.77% of total assets, respectively, as of March 31, 2016.”

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 $511 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.

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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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