PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sat, April 1, 3:56 PM
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Slide #340. 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. provides private banking, private business banking and private wealth management, including investment, trust and brokerage services. 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.PRC, FRC.PRD, FRC.PRE, FRC.PRF
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Avg. Broker Rec.
 
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Buy (3.00 out of 4) 35th percentile
(ranked lower than approx. 65% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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