QUOTE AND NEWS
TheStreet.com  Mar 13  Comment 
NEW YORK (TheStreet) -- Shares of First Republic Bank were falling 5.3% to $56.49 with heavy trading volume on Friday after the bank and wealth management company priced the 3.5 million shares of common stock in its public offering. First...
Benzinga  Mar 2  Comment 
CNBC Fast Money's Jim Lebenthal said on the segment of the show called "Halftime Report Final Trade" that he is a buyer of BP plc (ADR) (NYSE: BP). Joe Terranova wants to buy First Republic Bank (NYSE: FRC). Josh Brown thinks that CME Group...
Benzinga  Jan 26  Comment 
Analysts at Keefe Bruyette & Woods downgraded First Republic Bank (NYSE: FRC) from Outperform to Market Perform. The price target for First Republic Bank is set to $55. First Republic Bank shares have surged 3.79% over the past 52 weeks,...
Benzinga  Jan 26  Comment 
Motley Fool  Jan 25  Comment 
Based on this bank's profitability, its 1.2% dividend has room to grow.
TheStreet.com  Jan 15  Comment 
NEW YORK (TheStreet) -- First Republic Bank shares are down 0.63% to $47.46 in trading on Thursday after the San Francisco-based bank released its fourth quarter earnings results today. The company reported fourth quarter net income of $115.5...
Forbes  Dec 30  Comment 
Investors in First Republic Bank (NYSE: FRC) saw new options begin trading this week, for the August 2015 expiration. One of the key inputs that goes into the price an option buyer is willing to pay, is the time value, so with 234 days until...




 
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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