First Republic Bank ("First Republic") (NYSE:FRC), a leading private bank and wealth management company, today announced the pricing of a public offering of 8,000,000 depositary shares, each representing a 1/40th interest in a share of its 5.125% Noncumulative Perpetual Series H Preferred Stock, at a public offering price of $25.00 per depositary share. The offering is expected to close on or about June 7, 2017, subject to the satisfaction of customary closing conditions.

First Republic intends to use the net proceeds from the offering to fund the redemption of all the outstanding shares of its Series B Preferred Stock, which First Republic previously announced will be redeemed on June 16, 2017. The redemption of the Series B Preferred Stock is not contingent upon the completion of the offering. First Republic intends to use any additional net proceeds from the offering for general corporate purposes, which may include, among other things, funding loans or purchasing investment securities for its portfolio.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities, LLC are serving as joint book-running managers. Keefe, Bruyette & Woods, A Stifel Company, is serving as co-manager.

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: Merrill Lynch, Pierce, Fenner & Smith Incorporated, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attention: Prospectus Department, or email: dg.prospectus_requests@baml.com; Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, New York, New York 10014, or by email at prospectus@morganstanley.com; UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY, 10019 or by calling 1-888-827-7275; and Wells Fargo Securities, LLC, 608 2 nd Avenue South, Minneapolis, MN 55402, Attention: WFS Customer Service, email: wfscustomerservice@wellsfargo.com or by calling toll-free at 1-800-645-3751.

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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