Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, December 4, 2:54 AM
|This Slide: #304 of 573|
Slide #304. First Republic Bank — Preferred Stock Offering
First Republic Bank (NYSE:FRC)
Date of Pricing:
Price Per Share:
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 gathering deposits (retail deposit gathering and private banking activities), 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., Co.'s money market mutual fund activities, trust and custody services and Co.'s foreign exchange activities.
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Buy (2.87 out of 4)
(ranked lower than approx. 83% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com