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First Republic Bank (NYSE:FRC) announced a public offering of depositary shares, each representing a 1/40th interest in its Noncumulative Perpetual Series N Preferred Stock, priced at $25.00 per share. The underwriters will have a 30-day option to purchase additional shares. Proceeds will be used for general corporate purposes, potentially including funding loans or purchasing securities. The offering is conducted by joint book-running managers including BofA Securities and J.P. Morgan. The offering circular is available online.
First Republic Bank (NYSE:FRC) has announced the appointment of Max Peckler as Managing Director and Wealth Manager at its Boston office. With over 26 years of experience, Peckler will enhance the bank's wealth management services, including portfolio management and investment consulting. His prior experience includes leadership roles at UBS and Wachovia Securities. Peckler's addition underscores First Republic's commitment to expanding its capabilities in the Boston area, focusing on exceptional client service.
First Republic Bank (NYSE:FRC) will present at the BancAnalysts Association of Boston Conference on November 4, 2021, at 11:20 a.m. ET, held at the Four Seasons Hotel in Boston, Massachusetts. Chief Banking Officer Mike Selfridge and Chief Accounting Officer Olga Tsokova will lead the presentation, which will be webcast live on the bank's website. A replay will be available for 30 days post-event. Founded in 1985, First Republic specializes in private banking and wealth management services across several major U.S. cities.
First Republic Bank (NYSE:FRC) has appointed David Munoz as Managing Director and Wealth Manager in New York. Munoz brings over 24 years of wealth management experience, focusing on high net worth and ultra-high net worth clients. Previously, he served at Merrill Lynch, Morgan Stanley, and UBS Financial Services. Bob Thornton, President of First Republic Private Wealth Management, emphasized Munoz's commitment to exceptional client service. First Republic continues to strengthen its wealth management team to enhance service delivery to its clients.
First Republic Bank (NYSE: FRC) reported robust financial results for Q3 2021, achieving a 30.1% year-over-year revenue growth of $1.3 billion. Net interest income rose 26.7% to $1.1 billion, while net income increased by 26.1% to $369.7 million. The bank originated a record $15.5 billion in loans, up 26.3% from last year, and deposits surged 39.2% to $145.3 billion. A quarterly dividend of $0.22 per share was declared. Despite strong performance, net interest margin slightly declined to 2.65%.
First Republic Bank (NYSE:FRC) has announced the addition of Charles Rodgers, Laurel Norris, and Michael Morrone as Managing Directors and Wealth Managers in its San Francisco Bay Area team. Each brings extensive experience in wealth management, focusing on ultra-high net worth families and charitable organizations. Rodgers has over 23 years in the field, Norris has 19 years, and Morrone has 14 years of experience. This strategic hiring is aimed at enhancing the bank's wealth management services.
First Republic Bank (NYSE:FRC) has declared cash dividends for its perpetual preferred stock series. Shareholders will receive:
- $11.75 per share for Series J, payable on October 29, 2021.
- $10.3125 per share for Series K, payable on October 29, 2021.
- $10.625 per share for Series L, payable on October 29, 2021.
- An initial $11.00 per share for Series M, payable on October 29, 2021.
All dividends are payable to shareholders of record as of October 15, 2021.
First Republic Bank (NYSE:FRC) will announce its third quarter 2021 financial results on October 13, 2021, before market opening. A conference call will follow at 7:00 a.m. PT / 10:00 a.m. ET. Interested parties can listen via telephone or online through the Investor Relations section of the bank's website. A replay will be available after the call until October 20, 2021. Founded in 1985, First Republic Bank specializes in private banking and wealth management, providing a range of financial services across multiple locations in the U.S.
First Republic Bank (NYSE:FRC) declared cash dividends for its perpetual preferred stock. The quarterly cash dividend for the Noncumulative Perpetual Series H Preferred Stock is
The Noncumulative Perpetual Series I Preferred Stock will see a dividend of
First Republic Bank (NYSE:FRC) has announced the appointment of Ashley Evans as Managing Director and Wealth Manager at First Republic Investment Management in San Francisco. With over 15 years of experience in wealth management, Evans will deliver portfolio management, retirement planning, and investment consulting services to high net worth individuals and families. Her background includes a role at Merrill Lynch and active community involvement. First Republic emphasizes exceptional client service, as highlighted by Bob Thornton, President of Private Wealth Management.
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