1999-2000

2000

Acquired interest in Froley, Revy Investment Company
Originated $2.0 billion of loans. Achieved cross-sell ratio of 6.1 products per new loan customer.
Sold $1.1 billion of loans to investors, including the Bank's first two loan securitization transactions. Loan sales allowed total asset growth to be limited to less than 2.0%.
Checking account balances more than doubled in 2000, ending the year at $284 million, or 11% of total deposits
Successfully started a personal trust and custody service, First Republic Trust Company
Began to offer brokerage services to our customers through our Investment Division
Increased fee income to 22% of net revenues
Reported a 10% increase in fully diluted EPS

Acquired full ownership of Trainer, Wortham & Company, founded in 1924, investment manager of $2.6 billion
Introduced Internet banking
Net Income reached a record level
Cost of deposits decreased during the year by more than 50 basis points relative to the 11th district cost of funds index
Exceeded $1.8 billion in loan originations
Assets under management by Trainer, Wortham & Company grew 39% to $3.6 billion
Increased assets 22% to $3.6 billion
Increased deposits by 23% to $2.14 billion
Opened retail branch at Park Avenue in New York City