Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thursday, March 28, 6:55 AM
Slide #263. First Republic Bank — Preferred Stock Offering
Company: |
First Republic Bank (FRC) |
Date announced: |
5/31/2017 |
Shares Offered: |
8,000,000 |
Date of Pricing: |
5/31/2017 |
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 a public offering of depositary shares, each representing a 1/40th interest in a share of its Noncumulative Perpetual Series H Preferred Stock, at a public offering price of $25.00 per depositary share. In addition, First Republic will grant the underwriters an option for up to 30 days to purchase additional depositary shares at the public offering price less the underwriting discount. -updated 5/31- 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 Bank is a commercial bank and trust company. Co. provides private banking, private business banking and private wealth management. Co. conducts its business through two segments: Commercial Banking and Wealth Management. The principal business activities of the Commercial Banking segment include gathering deposits, originating and servicing loans and investing in investment securities. The principal business activities of the Wealth Management segment include the investment management activities of Co.'s subsidiary, First Republic Investment Management, Inc., which manages investments for individuals and institutions.
Preferreds: FRC.PRA, FRC.PRB, FRC.PRC, FRC.PRD, FRC.PRE, FRC.PRF, FRCHL, FRCIL, FRCJL, FRCKL, FRCLL, FRCML, FRCCL
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