Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Saturday, April 20, 7:44 AM
Slide #577. First Republic Bank — Preferred Stock Offering
Company: |
First Republic Bank (FRC) |
Date announced: |
11/15/2012 |
Date of Pricing: |
11/15/2012 |
Price Per Share: |
$25 |
Preferred Stock Offering Details: |
First Republic Bank, a private bank and wealth management company, today announced a public offering of depositary shares, each representing a 1/40th interest in a share of First Republic's Noncumulative Perpetual Series C 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. First Republic expects to use the net proceeds from the offering for general corporate purposes, which may include, among other things, funding loans or purchasing investment securities for its portfolio. --updated 11/15/12 -- First Republic Bank, a 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 5.625% Noncumulative Perpetual Series C Preferred Stock, at a public offering price of $25.00 per depositary share. In addition, First Republic has granted the underwriters an option for up to 30 days to purchase up to an additional 900,000 depositary shares at the public offering price less the underwriting discount. First Republic expects to use the net proceeds from the offering for general corporate purposes, which may include, among other things, funding loans or purchasing investment securities for its portfolio. |
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
Open the FRC Page at Preferred Stock Channel »
Open the FRC Page at Preferred Stock Channel (in a new window) »