FRC - FRC STOCK NEWS

First Republic Bank (NYSE:FRC) has announced the appointment of Michael Brodnik as Managing Director and Wealth Manager within its Investment Management division. With over 13 years of experience, Brodnik will focus on portfolio management and investment consulting for individuals and organizations. His previous roles include senior positions at Merrill Lynch, Barclays, and Bernstein. This addition aims to bolster First Republic's commitment to exceptional client service and expand its wealth management capabilities, particularly in Florida.

First Republic Bank (NYSE:FRC) has announced the addition of a new five-member team led by Paul Vasady-Kovacs to its Investment Management division. Vasady-Kovacs, a seasoned wealth manager with over 22 years of experience, will assume the role of Managing Director and Wealth Manager, focusing on portfolio management and investment consulting for high net worth individuals and families. The bank aims to bolster its client service capabilities and strengthen its wealth management offerings.

First Republic Bank (NYSE: FRC) reported third-quarter results for 2022, showing strong financial growth. Revenues increased 16.9% year-over-year to $1.5 billion, and net income rose 20.5% to $445 million. Notably, net interest income climbed 20.6% to $1.3 billion, driven by robust loan originations of $18 billion. The tangible book value per share reached $72.54, up 11.3%. The bank declared a cash dividend of $0.27 per share, effective November 10, 2022. Despite a minor decline in the net interest margin to 2.71%, credit quality remained solid with low nonperforming assets at 6 basis points.

First Republic Bank (NYSE:FRC) announced cash dividends for its preferred stock series, payable on October 28, 2022. The quarterly dividends include $11.75 per share for Series J, $10.3125 for Series K, $10.625 for Series L, $10.00 for Series M, and $11.25 for Series N. All dividends are based on shares held as of October 14, 2022.

First Republic Bank (NYSE:FRC) announced it will release its third quarter 2022 financial results before market opening on October 14, 2022. A conference call to discuss the results will follow at 7:00 a.m. PT / 10:00 a.m. ET. Interested parties can access the call by dialing (888) 204-4368 and entering confirmation code 2879019. The call will also be available via live webcast on the Investor Relations section of the bank's website. A replay will be accessible from October 14 at 11:00 a.m. PT through October 21.

First Republic Bank (NYSE:FRC) announced the addition of a nine-member wealth management team led by Harold Reinstein and Michael Nelson, both now Managing Directors. The team, based in Scarsdale, New York, aims to enhance portfolio management and retirement planning services for individuals and nonprofits. Reinstein brings over 28 years of experience from Merrill Lynch, while Nelson has 23 years of wealth management expertise. Their recruitment is expected to strengthen First Republic's client service capabilities in the New York metropolitan area.

First Republic Bank (NYSE:FRC) has announced the appointment of Rick Osterloh, Senior Vice President at Google, to its Board of Directors. Osterloh brings over 22 years of experience, having led Google's Devices & Services since 2016. His expertise spans notable companies like Motorola, Skype, and Amazon. Osterloh expressed his excitement about contributing to First Republic's client-focused business model. The bank is recognized for its exceptional service and innovative financial solutions, catering primarily to high-net-worth clients across various U.S. locations.

First Republic Bank (NYSE:FRC) announced its participation at the Barclays Global Financial Services Conference, scheduled for September 12, 2022, at 12:00 p.m. ET in New York City. CEO Mike Roffler and Acting CFO Olga Tsokova will lead the presentation. It will be broadcast live, and a replay will be available on the bank's Investor Relations website for 30 days post-event. Established in 1985, First Republic specializes in private banking and wealth management, offering products such as loans and investment services.

First Republic Bank (NYSE:FRC) has declared cash dividends for its preferred stock series. A quarterly cash dividend of $12.8125 per share is set for the Noncumulative Perpetual Series H Preferred Stock, equating to $0.3203125 per depositary share, payable on September 30, 2022, to shareholders of record as of September 16, 2022. Meanwhile, the Noncumulative Perpetual Series I Preferred Stock will receive a quarterly cash dividend of $13.75 per share, or $0.34375 per depositary share, also payable on September 30, 2022.