QUOTE AND NEWS
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...
TheStreet.com  Apr 16  Comment 
NEW YORK (TheStreet) -- First Republic Bank  missed Capital IQ and Thomson Reuters EPS estimates in the first quarter 2014 earnings report it released on Wednesday.The bank and wealth management firm posted an EPS of 67 cents per share, missing...
TheStreet.com  Mar 21  Comment 
Update (9:40 a.m.): Updated with Friday market open information. NEW YORK (TheStreet) -- BMO Capital increased its target price on First Republic Bank  to $58 and set a "market perform" rating. The firm cited valuation with the benefit of...
Benzinga  Mar 18  Comment 
In a report published Tuesday, Morgan Stanley analyst Ken A. Zerbe reiterated an Overweight rating on First Republic Bank (NYSE: FRC), but removed the $56.00 price target. In the report, Morgan Stanley noted, “We spoke with FRC management to...
Benzinga  Mar 17  Comment 
First Republic Bank ("First Republic") (NYSE: FRC), a leading private bank and wealth management company, today announced that it has agreed to sell 3,500,000 shares of its common stock in an underwritten public offering. First Republic has also...
SeekingAlpha  Jan 16  Comment 
First Republic Bank (FRC) Q4 2013 Earnings Call January 16, 2014 2:00 PM ET Executives Dianne Snedaker - EVP and CMO Jim Herbert - Chairman and CEO Katherine August-deWilde - President and COO Mike Selfridge - Senior EVP and...
Benzinga  Jan 7  Comment 
In a report published Tuesday, analyst Lana Chan of BMO Capital Markets downgrades First Republic Bank (NYSE: FRC) to Market Perform from Outperform and increases price target to $55 from $53. Chan noted in the report, "In addition to the...
SeekingAlpha  Dec 11  Comment 
First Republic Bank (FRC) Goldman Sachs Financial Services Conference December 10, 2013 2:00 p.m. ET Executives Jim Herbert - Chairman and CEO Mike Selfridge - Senior EVP and COO Glenn Degenaars - Senior Managing Director and...
Forbes  Nov 22  Comment 
The other day, an impressive though small cream envelope arrived in the mail. It was impressive mostly because of the gold embossed eagle above the sender?s name, which I didn?t have to read because I?d known at a glance that it came from First...




 
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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