First Republic Bank (NYSE: FRC), a leading provider of private banking, private business banking and wealth management services, today said that it has been added to the S&P Total Market Index.
The Bank’s inclusion in the index, effective at the opening of trading on Monday, March 21, 2011, followed the completion of First Republic’s initial public offering on December 14, 2010. First Republic Bank and its selling shareholders raised $323 million in gross proceeds in one of the largest banking IPOs in two decades. In July 2010, the bank completed a management-led buyback and became an independent entity again after raising over $1.8 billion from a group of private equity firms and other investors that included Colony Capital and General Atlantic.
“We are pleased to be included in the S&P Total Market Index, in recognition of our December 2010 IPO,” said Jim Herbert,Chairman and Chief Executive Officer of First Republic Bank. “We are proud of this milestone and look forward to continuing to execute on our successful growth strategy.”
The S&P Total Market Index is a combination of the S&P 500® and the S&P Completion Index, and offers broad exposure to large, mid, small, and micro cap companies. The S&P Total Market Index includes all common equities listed on the NYSE (including NYSE Arca), the NYSE Alternext, the NASDAQ Global Select Market, the NASDAQ Global Market and the NASDAQ Capital Market. For more information, please visit www.standardandpoors.com/indices.
About First Republic Bank
First Republic Bank (NYSE:FRC) and its subsidiaries provide private banking, private business banking and private wealth management. Founded in 1985, First Republic specializes in exceptional, relationship-based service offered through preferred banking or wealth management offices primarily in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach, San Diego, Portland, Boston, Greenwich and New York City. First Republic offers a complete line of banking products for individuals and businesses, including deposit services, as well as residential, commercial and personal loans. More information is available on the Bank’s website at http://www.firstrepublic.com.
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