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First Republic Announces Pricing Of Preferred Stock Offering

Stocks in this article: FRC

First Republic Bank (“First Republic”) (NYSE: FRC), a private bank and wealth management company, today announced the pricing of a public offering of 6,000,000 depositary shares, each representing a 1/40th interest in a share of its 5.625% Noncumulative Perpetual Series C Preferred Stock, at a public offering price of $25.00 per depositary share. In addition, First Republic has granted the underwriters an option for up to 30 days to purchase up to an additional 900,000 depositary shares at the public offering price less the underwriting discount. First Republic expects to use the net proceeds from the offering for general corporate purposes, which may include, among other things, funding loans or purchasing investment securities for its portfolio.

BofA Merrill Lynch, Morgan Stanley, Goldman, Sachs & Co. and J.P. Morgan are serving as joint book-running managers.

The offering will be made only by means of an offering circular. The offering circular relating to the offering is available at www.frc-offering.com. Copies of the offering circular may also be obtained from BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus Department or by emailing dg.prospectus_requests@baml.com; from Morgan Stanley, Attention: Prospectus Department, 180 Varick Street, New York, New York 10014, or by email at prospectus@morganstanley.com ; from Goldman, Sachs & Co., 200 West Street, New York, NY 10282, phone: (866) 471-2526; or from J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10017, Attn: Investment Grade Syndicate Desk, phone: (212) 834-4533.

About First Republic

First Republic Bank and its subsidiaries provide private banking, private business banking and private wealth management. Founded in 1985, First Republic specializes in exceptional, relationship-based service offered through preferred banking or wealth management offices primarily in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach, San Diego, Portland, Boston, Greenwich and New York City. First Republic offers a complete line of banking products for individuals and businesses, including deposit services, as well as residential, commercial and personal loans. First Republic is a component of the S&P Total Market Index, the Wilshire 5000 Total Market Index SM, the Russell 1000 ®, Russell 3000 ® and Russell Global indices and six Dow Jones indices.

This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The securities are neither insured nor approved by the Federal Deposit Insurance Corporation.

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