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Starting Amount
$
After
years
Dividend yield
%
Dividends reinvested
$
First Republic Bank
Type
Public
Traded as NYSE: FRC
Industry Banking
Financial services
Investment services
Founded 1985
Headquarters San Francisco, CA, USA
Area served
California
United States
Key people
James H. Herbert II
Chairman and CEO
Hafize Gaye Erkan
President
Products Consumer Banking
Corporate Banking
Wealth Management
Mortgages
Total assets US$73.3 billion (2017)
Total equity US$6.9 billion (2017)
Subsidiaries
  • First Republic Investment Management, Inc.
  • First Republic Securities Company, LLC
  • First Republic Trust Company
  • First Republic Trust Company of Delaware LLC
  • Gradifi Inc
Website firstrepublic.com

First Republic Bank is an American bank and wealth management company offering personal banking, business banking, trust and wealth management services. The bank specializes in delivering personalized relationship-based service through preferred banking or trust offices on the United States East and West Coasts, including San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach, San Diego, Portland, Palm Beach, Boston, Greenwich and New York City.

First Republic offers wealth management services through First Republic Wealth Advisors and First Republic Investment Management. Brokerage services are provided through First Republic Securities Company LLC and Trust services are provided through First Republic Trust Company.

Started as a "tiny thrift" company, The company was founded in 1985. Since its founding it has undergone a series of ownership changes since 2007, beginning with its announced purchase by Merrill Lynch on January 29, 2007 for $1.8 billion to augment their private client business. The company was to be operated as a separate business of Merrill Lynch. The Merrill transaction was finalized on September 21, of 2007. Robert J. McCann, president of Merrill's Global Wealth Management group stated their purpose was to accelerate their strategy of "growing our high net worth, private banking business" Over the same weekend that Lehman Brothers Holdings filed for Chapter 11 bankruptcy protection, on September 15, 2008, Merrill Lynch and its subsidiaries were acquired by Bank of America.

In October 2009, the First Republic once more changed ownership, with the announced purchase by two private equity firms, Colony Capital and General Atlantic of just under 50%, and a group of other investors that includes the chairman, James Herbert and the former COO Katherine August-deWilde. The price was valued at about $1 billion. Both equity firms have had prior relationships with First Republic Bank as Thomas J. Barrack, Jr., the head of Colony, had been a board member prior to the Merrill Lynch deal and General Atlantic had been an early investor in the firm putting up about $5 million in 1987. The deal was consummated on July 1, 2010. The London-based AltAssets news service reported that an additional $800 million was provided by the new investment consortium to meet new capital requirements established by U.S. regulators.

In the years leading up to 2016, the bank's private wealth management unit acquired advisory team such as Constellation Wealth Partners. By April 2016, American Banker says the company had $62.1 billion in assets. With clients such as Mark Zuckerberg, also by then First Republic had opened branches at the Facebook and Twitter Inc. headquarters in Silicon Valley. Barron's in September 2016 decided to list First Republic Bank at 21 on its list of America's Top 40 Wealth Management Firms. By December 2016, First Republic Bank had $68 billion in assets.

In December 2016, the bank acquired Gradifi, a startup in Boston, for an unknown cash amount. Two years old, Gradifi worked with companies to help their employees pay off student debt, and First Republic had become a client in August 2016. Becoming a wholly owned subsidiary of First Republic, Gradifi continued to operate in Boston under its own name with the same chief executive and an increase in employee count. Gradifi retained its customer base including PricewaterhouseCoopers, Natixis Global Asset Management and Penguin Random House.

There are currently 68 office locations of First Republic, all of which are in the United States.

West

East

Investment goal date:
Dividends reinvested
First Republic Bank FRC report Q3 2017
Period
Date
Adjusted Actuals EPS
GAAP EPS
Q1 2018
2018-04-16
--
--
Q4 2017
2018-01-11
--
--
Q3 2017
2017-10-13
1.1400
0.0000
Q2 2017
2017-07-14
1.0600
1.0600
Q1 2017
2017-04-13
1.0100
1.0100
Q4 2016
2017-01-13
1.0300
1.0300
Q3 2016
2016-10-13
1.0000
1.0000
Q2 2016
2016-07-14
0.9700
0.9700
Q1 2016
2016-07-07
0.9300
0.9400
Q4 2015
2016-01-14
0.8400
0.8400
There is presents forecasts or rating agencies and recommendation for investors about this ticker
Funds
Fund Name
Ticker shares
BAILLIE GIFFORD & CO
7304289
BlackRock Inc.
9831999
BlackRock Institutional Trust Company, N.A.
4219428
CAM Group Holding A/S
2810903
Capital World Investors
7578025
FMR LLC
4355498
HARDING LOEVNER LP
2317418
Invesco Ltd.
2384276
JPMORGAN CHASE & CO
5951600
PRICE T ROWE ASSOCIATES INC /MD/
11378920
Select Equity Group, L.P.
2912789
Standard Life Investments LTD
4999939
STATE STREET CORP
4984795
Vanguard Group, Inc
12245387
WELLINGTON MANAGEMENT CO LLP
2967420
Major Shareholders
Name Relationship
Total Shares
Holding stocks