FRC - FRC STOCK NEWS

First Republic Bank (NYSE:FRC) has appointed Vishal Bakshi as Managing Director and Wealth Manager within First Republic Investment Management in New York. With over 21 years of experience, Bakshi previously held senior positions at Merrill Lynch and Credit Suisse, specializing in bespoke wealth management solutions for a diverse clientele. The bank aims to enhance its service offerings and client engagement in the metropolitan area.

First Republic Bank (NYSE:FRC) has declared quarterly cash dividends on its preferred stock. The Series H Preferred Stock will pay $12.8125 per share, equivalent to $0.3203125 per depositary share, while the Series I Preferred Stock will distribute $13.75 per share, or $0.34375 per depositary share. Both dividends are payable on June 30, 2022, to shareholders of record as of June 16, 2022.

First Republic Bank (NYSE:FRC) announced its intention to redeem $500 million of its 2.500% Senior Notes due May 6, 2022. The redemption will cover the entire outstanding principal amount, plus accrued interest up to that date. The Bank of New York Mellon Trust Company, N.A. has been appointed to notify all noteholders regarding the redemption process. This action is part of First Republic's financial management strategy, emphasizing its commitment to maintaining strong liquidity and financial health.

First Republic Bank (NYSE: FRC) reported strong financial results for Q1 2022, with revenues increasing 23% year-over-year to $1.4 billion. The bank achieved net income of $401 million, up 19.9%, and a diluted EPS of $2.00, reflecting an 11.7% rise. Loan originations reached a record $17.8 billion, while deposits grew 26.7% to $162.1 billion. The tangible book value per share rose 14% to $68.47. Additionally, the quarterly dividend increased to $0.27 per share, marking the 11th consecutive year of dividend growth.

First Republic Bank (NYSE:FRC) declared cash dividends on its perpetual preferred stocks. The quarterly dividend of $11.750 per share for Series J, $10.31250 for Series K, $10.6250 for Series L, $10.00 for Series M, and $11.250 for Series N will be payable on April 29, 2022, to shareholders of record as of April 14, 2022. This announcement reflects the bank's commitment to providing returns to its shareholders.

First Republic Bank (NYSE:FRC) has announced Kathleen Kalp as the new Senior Vice President and Wealth Manager for First Republic Investment Management in Santa Barbara. With over 28 years of experience, Kalp will provide tailored wealth management services, including portfolio management and retirement planning. Bob Thornton, President of First Republic Private Wealth Management, highlighted Kalp's alignment with the bank's commitment to exceptional client service. Previously, she held a senior role at Montecito Bank & Trust and has extensive experience across various financial sectors.

First Republic Bank (NYSE:FRC) will announce its first quarter 2022 financial results on April 13, 2022, before the market opens. A conference call is scheduled for 7:00 a.m. PT / 10:00 a.m. ET to discuss the results, with access details provided for participants. The live webcast can be accessed on the bank's Investor Relations website. A replay of the call will be available later that day through April 20, 2022. The bank specializes in private banking and wealth management, operating in locations across California, Oregon, Massachusetts, Florida, Connecticut, New York, and Wyoming.

First Republic Bank (NYSE:FRC) has welcomed Crista Tucker and Greg Shevlin as Managing Directors and Wealth Managers at First Republic Investment Management in Scarsdale, New York. Their roles will focus on portfolio management, retirement planning, and investment consulting for various clients. Both bring extensive wealth management experience, with Tucker having over 25 years and Shevlin over 31 years in the field. Their appointments aim to enhance First Republic's commitment to superior client service as the bank continues to expand its wealth management team.

First Republic Bank (NYSE:FRC) announced the appointment of Mike Roffler as CEO effective March 13, 2022, transitioning from his role as President. Jim Herbert, the founder, will become Executive Chairman, remaining involved in strategy and client relations. Roffler joined the bank in 2009 and has over 25 years of experience, emphasizing a commitment to the bank's service-oriented culture. The leadership change aims to ensure continuity and foster growth while maintaining First Republic's unique client-focused approach.