Exhibit 99.1

Company Release – July 21, 2017

First Priority Financial Corp. Reports Continued Stronger Operating Results;

Net Income for the Six Months Ended June 30, 2017 is Up 42% Over the Comparable 2016 Period

Malvern, Pa., July 21, 2017 – First Priority Financial Corp. (“First Priority” or the “Company”), parent of First Priority Bank (the “Bank”), today reported that net income for the six months ended June 30, 2017 increased 42% to $1.55 million or $0.21 per basic and fully diluted common share versus $1.09 million or $0.13 per basic and fully diluted common share for the same period in 2016.

Net income for the second quarter of 2017 totaling $766 thousand, or $0.11 per basic common share and $0.10 per fully diluted common share, a 38% increase compared to $556 thousand or $0.07 per basic and fully diluted common share in the second quarter of 2016, and compares to $782 thousand or $0.11 per basic and fully diluted common share in the first quarter of 2017.

Income to common shareholders, after preferred dividends, totaled $1.40 million for the first six months of 2017, a 67% increase over the prior year of $833 thousand; and totaled $690 thousand in the second quarter of 2017, an increase of 44% over $479 thousand reported in the second quarter of the prior year.

Additionally, asset quality remains strong as non-performing loans declined to 0.12% of total loans, non-performing assets were 0.20% of total assets and the total delinquency ratio, including past due loans, totaled 0.14% of total loans as of June 30, 2017.

David E. Sparks, Chairman and CEO, stated: “The Company’s operating performance is sound, asset quality continues to improve, the balance sheet remains strong and we continue to broaden our relevance as the Company expands its reach.”

Sparks noted: “Total loans increased 18% versus a year ago primarily due to the $64 million loan and relationship acquisition which closed in August, 2016. Since that time, we have been very successful in expanding and deepening our relationships with these new customers. Additionally, we have also been very cautious in maintaining our underwriting discipline in a very competitive marketplace.”

Sparks continued: “We have also taken several steps to broaden our market expansion into Chester County through the addition of several key production personnel and are planning to open an office in West Chester to allow for continued growth within that market. Our focus on asset quality and continued core deposit growth are key primary objectives in maintaining and improving the fundamentals of our Company.”

Sparks added: “Additionally, we continue to focus on operating expense levels and overall expense management. Operating expenses increased only 1.2% for the first six months of 2017 compared to the same period a year ago. Concurrently, the efficiency ratio improved 7.2% to 75.6% from 82.8% when comparing these same periods.”

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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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Balance Sheet and Capital Review:

Asset Quality Highlights:

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Operating Results Review:

Net interest income for the six months ended June 30, 2017 totaled $9.03 million compared to $8.01 million in the prior year, an increase of $1.02 million, or 12.8%. Average interest earning assets increased $71.1 million, or 14.8% when comparing these periods. The rate on average earning assets increased 1 basis point while the average cost of funds increased 7 basis points which resulted in a decline in net interest margin of 5 basis points from 3.36% to 3.31%.

For the six months ended June 30, 2017, non-interest income decreased $336 thousand, as investment securities gains totaled $106 thousand in the current year, a decrease of $233 thousand compared to $339 thousand in the prior year, and wealth management fees declined $121 thousand from $178 thousand in the prior year compared to $57 thousand for the first six months of 2017.

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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 $607 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 seven banking offices and one loan production office located throughout 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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