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Last $60.42 USD
Change Today +0.06 / 0.10%
Volume 521.3K
FRC On Other Exchanges
Symbol
Exchange
New York
Mexico
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

first republic bank/ca (FRC) Key Developments

First Republic Bank Announces Executive Appointments for First Republic Private Wealth Management

First Republic Bank announced that it has named Wendi Doyle and Catherine Chase, experienced portfolio managers from Credit Suisse to its Century City team. Doyle and Chase, who combined have 50 years of investment experience, have both been named managing directors and portfolio managers at First Republic Private Wealth Management. Doyle has more than 30 years of private banking and investment management experience. Prior to joining First Republic, Doyle worked for Credit Suisse for six years, serving individuals, family offices and business managers in the Los Angeles area. Chase has 21 years of private banking and investment management experience. Prior to joining First Republic, Chase worked for Credit Suisse for six years, providing a wide range of investment management services to individuals and families.

First Republic Bank Announces Joining of Brian Riley as Executive Vice President of First Republic Investment Management

First Republic Bank announced that Brian Riley has joined First Republic Investment Management as Executive Vice President. Riley will lead a growing team of investment professionals at First Republic Investment Management. Riley will report to Robert Thornton, President of First Republic Private Wealth Management. Prior to joining First Republic, Riley worked for Merrill Lynch for 19 years, most recently as Managing Director of the Pacific West Region of the Private Banking and Investment Group. In that role, he worked with high-net worth clients, as well as private equity and venture capital firms.

First Republic Bank Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reports Net Loan Charge-Offs for the Second Quarter Ended June 30, 2015

First Republic Bank reported consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, total interest income was $411.955 million against $370.303 million a year ago. Net interest income was $375.064 million against $333.213 million a year ago. Income before provision for income taxes was $175.180 million against $165.523 million a year ago. Net income available to common shareholders was $116.934 million or $0.80 per diluted share against $106.943 million or $0.76 per diluted share a year ago. Core net income available to common shareholders (non-GAAP) was $106.704 million or $0.73 per diluted share against $96.999 million or $0.69 per diluted share a year ago. Total revenue was $455.300 million against $410.051 million a year ago. Total core revenue (non-GAAP) was $434.180 million against $388.789 million a year ago. For the six months, total interest income was $796.858 million against $727.614 million a year ago. Net interest income was $723.083 million against $653.916 million a year ago. Income before provision for income taxes was $330.558 million against $322.652 million a year ago. Net income available to common shareholders was $218.957 million or $1.52 per diluted share against $207.758 million or $1.49 per diluted share a year ago. Book value per common share as on June 30, 2015 was $30.03 against $26.82 as at June 30, 2014. Tangible book value per common share as on June 30, 2015 was $28.58 against $25.17 as at June 30, 2014. Core net income available to common shareholders (non-GAAP) was $203.344 million or $1.41 per diluted share against $188.953 million or $1.36 per diluted share a year ago. Total revenue was $878.238 million against $791.766 million a year ago. Total core revenue (non-GAAP) was $844.268 million against $750.966 million a year ago. The company reported net loan charge-offs for the second quarter ended June 30, 2015. For the quarter, the company reported net loan charge-offs of $0.352 million against $0.130 million a year ago.

First Republic Bank Declares Dividend for the Second Quarter Ended June 30, 2015, Payable on August 13, 2015

First Republic Bank declared a cash dividend for the second quarter of $0.15 per share of common stock, which is payable on August 13, 2015 to shareholders of record as of July 30, 2015.

First Republic Bank to Report Q2, 2015 Results on Jul 16, 2015

First Republic Bank announced that they will report Q2, 2015 results at 10:00 AM, US Eastern Standard Time on Jul 16, 2015

 

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Industry Analysis

FRC

Industry Average

Valuation FRC Industry Range
Price/Earnings 19.5x
Price/Sales 5.1x
Price/Book 2.0x
Price/Cash Flow 17.2x
TEV/Sales 0.5x
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