First Republic Bank Prices Common Stock Offering

One of the leading private bank and wealth Management Company First Republic Bank declared pricing of 2,500,000 shares of common stock.

First Republic Bank (“First Republic”) (NYSE:FRC), a leading private bank and wealth management company, today announced the pricing of an underwritten public offering of 2,500,000 shares of its common stock for expected gross proceeds of approximately $237.5 million before underwriting discounts and commissions and estimated offering expenses. First Republic has also granted the underwriters a 30-day option to purchase up to an additional 375,000 shares from First Republic. BofA Merrill Lynch, J.P. Morgan, Morgan Stanley and UBS Investment Bank are serving as joint bookrunning managers.

The last reported sale price of its common stock on March 6, 2017 was $96.96 per share. The underwriters propose to offer the shares of common stock for sale from time to time in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to receipt and acceptance by them and subject to their right to reject any order in whole or in part.

First Republic intends 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. Closing of the offering is expected to occur on or about March 10, 2017, subject to customary closing conditions.

The offering will be made only by means of an offering circular. The offering circular relating to the offering will be available at www.frc-offering.com. Copies of the offering circular may also be obtained when available from BofA Merrill Lynch, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, attention: Prospectus Department, or email: dg.prospectus_requests@baml.com; from J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling toll-free at (866) 803-9204; from Morgan Stanley, attention: Prospectus Department, 180 Varick Street, Second Floor, New York, NY 10014; or from UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY, 10019 or by calling 1-888-827-7275.

This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The securities are neither insured nor approved by the Federal Deposit Insurance Corporation.