PreferredStockChannel
Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thu, December 2, 10:02 AM
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Slide #436. First Republic Bank — Preferred Stock Offering
Company:
First Republic Bank (NYSE:FRC)
Date announced:
10/21/2013
Shares Offered:
8,000,000
Date of Pricing:
10/21/2013
Price Per Share:
$25
Preferred Stock Offering Details:
First Republic Bank ("First Republic") (NYSE: FRC), a 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 7.00% Noncumulative Perpetual Series E Preferred Stock, at a public offering price of $25.00 per depositary share. The offering is expected to close on October 28, 2013, 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.
Preferreds: FRC.PRC, FRC.PRD, FRC.PRE, FRC.PRF
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Avg. Broker Rec.
  
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Buy (2.87 out of 4) 17th percentile
(ranked lower than approx. 83% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com |
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