QUOTE AND NEWS
SeekingAlpha  Aug 14  Comment 
ByProfit Fan: On top of the fact that financial reports are made from estimates, earnings forecasts, or estimates of the estimates, are built on even less solid ground. And, if you assume this ground is the ground built by a company, it's hard not...
Benzinga  Jul 17  Comment 
In a report published Thursday, Morgan Stanley analyst Ken A. Zerbe reiterated an Overweight rating on First Republic Bank (NYSE: FRC), but lowered the price target from $59.00 to $51.00. In the report, Morgan Stanley noted, “First Republic is...
Benzinga  Jul 17  Comment 
Dresser-Rand Group (NYSE: DRC) shares moved up 14.93% to $69.44. The volume of Dresser-Rand shares traded was 1145% higher than normal. Dresser-Rand surged on Siemens takeover rumor. Select Comfort (NASDAQ: SCSS) shares rose 7.90% to $20.48. The...
Benzinga  Jul 17  Comment 
In a report published Thursday, Bank of America analyst Erika Najarian reiterated a Buy rating on First Republic Bank (NYSE: FRC), but lowered the price target from $60.00 to $52.00. In the report, Bank of America noted, “There's no getting...
SeekingAlpha  Jul 16  Comment 
First Republic Bank (NYSE:FRC) Q2 2014 Results Earnings Conference Call July 16, 2014, 2:00 PM ET Executives Dianne Snedaker - EVP and CMO Jim Herbert II - Chairman and CEO Katherine August-deWilde - President Mike D. Selfridge -...
TheStreet.com  Jul 16  Comment 
NEW YORK (TheStreet) -- First Republic Bank was falling -15.1% to $46.69 Wednesday after missing analysts' expectations for earnings and revenue in the second quarter. For the second quarter First Republic reported earnings of 69 cents a share,...
Motley Fool  Jun 24  Comment 
Solid asset, deposit and loan growth and enviably low charge-offs indicate that First Republic Bank is a well-run, high-quality bank.
Benzinga  Apr 30  Comment 
In a report published Wednesday, Deutsche Bank analyst Dave Rochester reiterated a Hold rating on First Republic Bank (NYSE: FRC), and raised the price target from $56.00 to $57.00. In the report, Deutsche Bank noted, “Mid cap banks are...
TheStreet.com  Apr 17  Comment 
Story updated at 9:55 a.m. to reflect market activity. NEW YORK (TheStreet) -- First Republic Bank was upgraded to "outperform" by FIG Partners Thursday. First Republic fell 0.1% to $52.02 in morning trading. The firm set a price target of...
SeekingAlpha  Apr 17  Comment 
First Republic Bank (FRC) Q1 2014 Earnings Conference Call April 16, 2014 14:00 ET Executives Dianne Snedaker - Executive Vice President and Chief Marketing Officer Jim Herbert - Chairman and Chief Executive Officer Katherine...




 
TOP CONTRIBUTORS

First Republic Bank (NYSE:FRC) is a California based commercial bank and trust. The bank focuses on what it calls relationship-based Preferred Banking. As of September 2010, the bank had $22B in total assets, $19B in deposits, $2B in equity, and $17.2B in assets under management. First Republic operates 61 offices located in 8 metropolitan areas. In terms of total deposits, First Republic is the 44th largest bank in the United States.[1]

Because First Republic focuses on relationship banking, its customers tend to be high net worth individuals who want large single family mortgage loans.[2] In order to best serve these clients, FRC is located along the coastal regions which have only 20% of all US households, but 53% of all US households with at least $1M in investable assets. This group of customers also tend to have a higher credit rating, and so the company is able to generate a stronger, more stable revenue base.[3]


The company's initial public offering of stock on the NYSE occurred on December 8, 2010. The company offered approximately 11M shares each for $25.50. This was within the initial price range of $24-$27. The IPO raised a total of well above the initial range of below the initial range of $9-$11. The IPO raised a total of $280.5M. The lead underwriters of the deal were Bank of America (BAC), Morgan Stanley (MS), and J P Morgan Chase (JPM).[4]

First Republic's total assets remained relatively stable from 2009 to 2008, rising by approximately $250M to $19.9B. Interest income on the other hand rose to $1.2B in 2009, a 35% increase over the 2008 interest income figure of $899M.[5]

References

  1. FRC 2010 OFFERING CIRCULAR SUMMARY "Overview" pg 1
  2. FRC 2010 OFFERING CIRCULAR SUMMARY "Our Business" pg 2
  3. FRC 2010 OFFERING CIRCULAR SUMMARY "Our Competitive Strenghts" pg 2-3
  4. Renaissance Capital - IPO Home "First Republic Bank prices IPO at $25.50, midpoint of the range" 8 Dec 2010
  5. FRC 2010 OFFERING CIRCULAR SUMMARY "SELECTED FINANCIAL INFORMATION" pg 10
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