First Republic Bank (FRC) Misses Q2 EPS by 4c

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Go back to First Republic Bank (FRC) Misses Q2 EPS by 4c

First Republic Reports Strong Second Quarter 2017 Results

July 14, 2017 8:00 AM EDT

Year-Over-Year Revenues Increased 20% and Wealth Management Assets Exceeded $95 Billion

SAN FRANCISCO--(BUSINESS WIRE)-- First Republic Bank (NYSE: FRC) today announced financial results for the quarter ended June 30, 2017.

First Republic had a very good quarter, driven by strong growth of loans, deposits and wealth management assets, said Jim Herbert, Chairman and CEO. Credit quality remains excellent, and the Bank continues to be well-capitalized.

Quarterly Highlights

Financial Results

Year-over-year:

Revenues were $641.3 million, up 19.9%.

Net interest income was $532.0 million, up 20.5%.

Net income was $186.6... More