FRC - FRC STOCK NEWS

First Republic Bank (NYSE:FRC) will present at the Raymond James Institutional Investors Conference virtually on March 2, 2021, at 2:10 p.m. ET. The presentation features Bob Thornton, President of Private Wealth Management, and Olga Tsokova, Chief Accounting Officer. Investors can access the live webcast on the Investor Relations section of the bank’s website, with a replay available for 30 days following the event. Founded in 1985, First Republic specializes in private banking and wealth management services across several U.S. locations.

First Republic Bank (NYSE:FRC) announced that a wealth management team led by Michael Kramer has joined its Investment Management division in New York City. The team, which includes two associates, specializes in investment management, retirement planning, and consulting for various clients. Kramer brings over 17 years of wealth management experience, having previously held senior roles at B. Riley Wealth Advisors and Ladenburg Thalmann & Co. This addition enhances First Republic's wealth management capabilities in the New York metropolitan area, emphasizing the bank's commitment to exceptional client service.

First Republic Bank (NYSE: FRC) has announced the redemption of all outstanding Series G Depositary Shares, relating to its 5.50% Noncumulative Perpetual Series G Preferred Stock. The 6,000,000 Series G Depositary Shares will be redeemed at $25.00 each on March 30, 2021, totaling $150,000,000, plus accrued dividends. Following this redemption, no dividends will be declared for the first quarter of 2021. The notice of redemption will be sent to holders of record, detailing the terms and procedures involved.

First Republic Bank (NYSE: FRC) has priced a public offering of 26,000,000 depositary shares, each representing a 1/40th interest in its 4.250% Noncumulative Perpetual Series L Preferred Stock, at $25.00 per share. The offering is expected to close around February 9, 2021. The bank plans to utilize net proceeds for general corporate purposes, including funding loans and potentially redeeming its 5.50% Noncumulative Perpetual Series G Preferred Stock. The underwriters have a 30-day option for an additional 3,900,000 shares.

First Republic Bank (NYSE:FRC) announced a public offering of depositary shares, each representing a 1/40th interest in its Noncumulative Perpetual Series L Preferred Stock, priced at $25.00 per share. The bank aims to use the net proceeds for general corporate purposes, including funding loans or purchasing investment securities. Additionally, proceeds may be utilized to redeem its 5.50% Series G Preferred Stock, subject to regulatory approvals. Major underwriters include BofA Securities and J.P. Morgan, among others. This offering is for informational purposes and does not constitute a sales offer under U.S. securities laws.

First Republic Bank (NYSE: FRC) reported robust financial results for 2020, marking its 35th consecutive profitable year. Revenues reached $3.9 billion, a 17.2% increase, with net income at $1.1 billion, up 14.4%. The bank achieved a loan origination total of $50.7 billion and a diluted EPS of $5.81, up 11.7%. Capital strength remains evident with a Tier 1 leverage ratio of 8.14% and nonperforming assets at a low 13 basis points.

Quarterly, revenues were $1.1 billion, up 23.1%, with net interest income rising to $892.7 million.

First Republic Bank (NYSE:FRC) has declared cash dividends on its perpetual preferred stock. A quarterly dividend of $11.75 per share will be paid on the Series J Preferred Stock, amounting to $0.293750 per depositary share, with a payment date of January 29, 2021. For the Series K Preferred Stock, a dividend of $10.3125 per share is set, equating to $0.25781250 per depositary share, with the same payment date. Both dividends are for shareholders on record as of January 15, 2021.

First Republic Bank (NYSE:FRC) will announce its fourth quarter and full year 2020 financial results before market opens on January 14, 2021. A conference call to discuss the results is scheduled for 7:00 a.m. PT / 10:00 a.m. ET on the same day. Interested parties can join via telephone or through a live webcast on the bank's Investor Relations website. A replay of the call will be available starting January 14 at 11:00 a.m. PT until January 21 at 8:59 p.m. PT, and the webcast will remain accessible for 90 days.

First Republic Bank (NYSE:FRC) has announced cash dividends for its perpetual preferred stock series. A quarterly cash dividend of $13.75 per share is declared for Series G, $12.8125 for Series H, and $13.75 for Series I. Each Series G and I share equates to $0.343750 per depositary share, while Series H equals $0.3203125. All dividends are payable on December 30, 2020, to shareholders of record as of December 16, 2020.