This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

First Republic Bank CEO Presents At Deutsche Bank Global Financial Services Investor Conference (Transcript)

First Republic Bank (FRC)

Deutsche Bank Global Financial Services Investor Conference

May 22, 2012 10:20 am ET

Executives

Jim Herbert – Chief executive Officer

Glenn Degenaars - Senior Managing Director and Portfolio Manager, First Republic Investment Management

Pamela Joyner - Director

Michele Celestino – Managing Director

Anna Legio- Managing Director

Analysts

Dave Rochester - Deutsche Bank

Presentation

Dave Rochester - Deutsche Bank

Good morning, everyone. I think we will go ahead and get started here. I am Dave Rochester. I'm the mid cap banks analyst here at Deutsche Bank.

It is my pleasure to introduce management team of First Republic Bank, its ticker, FRC. First Republic is a $30 billion asset bank, well over $4 billion in market cap. The bank is solely focused on catering to the high net worth customer segment. It has a bicoastal footprint in regions with large concentrations of high net worth customers, including San Francisco, L.A., New York and Boston, all of which combined account for just over 50% of the high net worth households in the U.S.

It has an estimated 16% market share in this segment in San Francisco, is in a process of building out a platform in Boston and New York. There is a whole lot of opportunity there which we will hear more about. I think this is easily one of the higher quality banks that I cover, among the strongest growth banks certainly in my coverage with the unique model that has really indicative of the success of this bank.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,887.31 -27.76 -0.16%
S&P 500 1,962.96 -1.72 -0.09%
NASDAQ 4,404.9860 +8.7820 0.20%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs