We are pleased to report that in 2005:

• We paved the way for expansion into Boston, Massachusetts and Greenwich, Connecticut with the acquisition of First Signature Bank in New England, completed in January 2006.
• We introduced a significant upgrade to our free online banking and bill pay services, incorporating state-of-the-art systems to coordinate with a range of personal financial software products.
• We substantially solidified our Wealth Management services to provide clients with an expanded range of investment options. Within this expansion, we integrated wealth advisors into each of our markets in conjunction with the launch of Portico, our new open architecture investment model.
• We introduced Brokerage One for clients who want to work with an investment consultant with access to virtually any equity, fixed income or mutual fund product. Brokerage One also offers First Republic's Net Worth Manager to help clients consolidate multiple sources of account data into a single online location.
• We introduced Personal Financial Services, providing customized financial solutions and services to ultra-affluent clients and their trusted advisors.