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Buy (2.71 out of 4)
30th percentile
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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sunday, October 20, 5:08 AM
Slide #203. First Republic Bank — Preferred Stock Offering
| Company: |
First Republic Bank (NYSE:FRC) |
| Date announced: |
2/3/2016 |
| Shares Offered: |
6,000,000 |
| Date of Pricing: |
2/3/2016 |
| Price Per Share: |
$25.00 |
| Preferred Stock Offering Details: |
First Republic Bank ("First Republic") (NYSE: FRC), a leading 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 5.50% Noncumulative Perpetual Series G Preferred Stock, at a public offering price of $25.00 per depositary share. First Republic has also granted the underwriters a 30-day option to purchase up to an additional 900,000 depositary shares from First Republic. The offering is expected to close on February 10, 2016, subject to customary closing conditions. |
First Republic Bank is a commercial bank and trust company. Co. conducts its business through two reportable business segments: Commercial Banking and Wealth Management. The principal business activities of the Commercial Banking segment are accepting funds from the general public, originating loans (primarily real estate secured mortgage loans) and investing in investment securities. Wealth Management segment consists of subsidiary First Republic Investment Management, Inc.; Co.'s money market mutual fund activities through third-party providers and the brokerage activities of First Republic Securities Company, LLC; the Trust Company; and Co.'s foreign exchange activities. Preferreds: FRC.PRC, FRC.PRD, FRC.PRE, FRC.PRF
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