FRC - FRC STOCK NEWS

First Republic Bank (NYSE:FRC) announces that wealth manager Dan Jennings has joined as Managing Director and Wealth Manager in Century City. Jennings will offer portfolio management, retirement planning, and investment consulting services to clients, including individuals and nonprofits. His experience includes a prior role at Merrill Lynch as Senior Vice President. Bob Thornton, President of First Republic Private Wealth Management, highlights Jennings' proven track record and commitment to exceptional client service in the Los Angeles area.

First Republic Bank (NYSE:FRC) announced the addition of a new seven-member team led by Ed Wentzheimer to its Investment Management division in New York City. Wentzheimer, serving as Managing Director and Wealth Manager, brings extensive experience from Morgan Stanley and UBS. Other team members include Senior Vice Presidents Howard Horowitz, Jeffrey Rozenberg, and Michael Yeung, along with Vice President Sebastian Komuda and Client Relationship Director Amanda Ricchiuti. The team aims to enhance wealth management services including portfolio management and retirement planning for various clients.

First Republic Bank (NYSE: FRC) reported robust financial performance for Q1 2021, with revenues reaching $1.1 billion, a 23.8% increase year-over-year. Key highlights include a net interest income of $938.8 million (up 24.8%) and a net income of $334.8 million (up 53.1%). Diluted earnings per share surged 49.2% to $1.79. Loan originations were a record $15.7 billion, while total deposits rose 36.5% to $127.9 billion. The bank raised its quarterly dividend by 10% to $0.22 per share. Strong asset quality is maintained, with nonperforming assets at only 11 basis points.

First Republic Bank (NYSE:FRC) has declared cash dividends on its perpetual preferred stock series. The quarterly dividends include: $11.75 per share for Series J, payable on April 30, 2021, with a record date of April 16, 2021; $10.3125 for Series K, also payable on April 30, 2021; and an initial dividend of $9.5625 for Series L, with the same payment date. Each share represents a 1/40th interest in its respective series. This demonstrates the bank's commitment to returning value to shareholders.

First Republic Bank (NYSE:FRC) will release its first quarter 2021 financial results before markets open on April 14, 2021. The bank will host a conference call at 7:00 a.m. PT to discuss the results. Investors can access the call via telephone or through a live webcast available on the Investor Relations section of their website. A replay of the call will be available from 11:00 a.m. PT on April 14 until April 21, 2021. First Republic Bank specializes in private banking and wealth management services across multiple locations in the U.S.

First Republic Bank (NYSE:FRC) announces the addition of Dominique Jordan and Isaac Richard III as Vice Presidents and Wealth Managers in Los Angeles. The duo will enhance the bank's wealth management services, focusing on portfolio management and retirement planning for individuals and nonprofits. Both have extensive backgrounds in wealth management, having previously worked at Morgan Stanley. This strategic hire aims to strengthen First Republic’s presence in Century City and underscores its commitment to exceptional client service.

First Republic Bank (NYSE:FRC) announced the addition of a new 10-person wealth management team led by Andrew Vahab in New York City and South Florida. This team, which includes several Managing Directors and Vice Presidents, specializes in portfolio management and investment consulting for individuals and families. The expansion reflects First Republic's commitment to enhancing its wealth management services. Vahab and other team members previously held positions at Citi Personal Wealth Management, highlighting their expertise in serving ultra-high net worth clients.

First Republic Bank (NYSE: FRC) announced the pricing of a public offering of 1,750,000 common shares, expecting gross proceeds of approximately $291.4 million. This offering size was increased from the previously announced 1,500,000 shares, with an option for underwriters to purchase an additional 262,500 shares. The shares are set to be sold at prevailing market prices. Proceeds will be used for general corporate purposes, including funding loans and purchasing investment securities. Closing is anticipated around March 4, 2021.

First Republic Bank (NYSE: FRC) has announced an underwritten public offering of 1,500,000 shares of common stock, with an option for underwriters to buy an additional 225,000 shares. The proceeds will fund general corporate purposes, including loans and investment securities. The closing date for the offering is expected around March 4, 2021. This announcement follows First Republic's strategy to support its operations and growth through capital markets. The offering circular will be available for interested investors.