First Republic’s markets are known for their vibrancy and diversity. These are the communities that our colleagues and clients call home, and it is of the utmost importance that we preserve what makes them so special. We are committed to caring for our communities with the same passion and energy with which we serve all clients.

We believe that we can have the greatest impact on our communities by leveraging our strength and expertise as a leading financial institution. Our comprehensive community engagement strategy is informed by our Community Advisory Board and encompasses three key areas:

  • Supporting affordable housing and home ownership
  • Developing our local economies
  • Volunteering and giving

We deliver this strategy directly through our company-led initiatives and alongside carefully selected partners who are leaders in our communities.

Our strategy aligns with the Community Reinvestment Act (CRA) which requires financial institutions to meet the credit needs of the local communities in a safe and sound manner, through lending, investments and service that is focused on minority and low- to moderate-income (LMI) borrowers. First Republic is proud to have achieved a satisfactory CRA rating for 29 consecutive years.

U.S. Department of the Treasury’s Community Advisory Board

Profile Picture of James H. Herbert

Jim Herbert, our Founder, Chairman and CEO, was a member of the Community Development Advisory Board of the U.S. Department of the Treasury’s CDFI Fund.

The CDFI Fund invests in Community Development Financial Institutions (CDFIs) to generate growth in distressed communities across the U.S. The CDFI Fund serves mission-driven financial institutions that take a market-based approach to supporting economically disadvantaged communities and providing capital to neighborhoods that lack access to financing.

Jim Herbert was one of two appointees from U.S. depository institutions to the 15-member board, which includes, among others, representatives from the departments of Agriculture, Commerce, Housing and Urban Development, Interior and Treasury, and the Small Business Administration.

Faith Bautista, a member of First Republic’s Community Advisory Board, currently serves on the Community Development Advisory Board of the CDFI Fund.

Community Advisory Board

Formed in 2016, the Community Advisory Board consists of distinguished community leaders in affordable housing, financial empowerment, and small business and economic development. The Board provides unbiased guidance on the Bank’s Community Reinvestment Act and fair and responsible banking strategies and facilitates dialogue between the Bank and community stakeholders. First Republic’s Community Advisory Board meets at least twice per year.

John Hope Bryant

Board Chair


Founder, Chairman and CEO of Operation HOPE; Chairman and CEO of Bryant Group Ventures and The Promise of Hopes Company; and Co-Founder of Global Dignity

Mr. Bryant is a founding member of the Forum of Young Global Leaders and the Clinton... Global Initiative. Mr. Bryant has received hundreds of awards and citations for his work, including being named one of the “50 Leaders for the Future” by Time magazine, the 2016 “Innovator of the Year” by American Banker magazine and one of the “Most Admired CEOs of 2018” by the Atlanta Business Chronicle. He also earned an honorable mention in Inc. magazine’s list of “The World’s 10 Top CEOs.” He is the author of bestsellers The Memo, How the Poor Can Save Capitalism and Love Leadership.

Faith Bautista

Board Member


President and CEO of the National Asian American Coalition and CEO of The National Diverity Coalition

Ms. Bautista advocates as a major voice for underserved markets in the halls of Congress; in the California legislature; in front... of key federal legislators, such as the Federal Reserve, FDIC, OCC, FHFA, FTC, FCC and SEC; and among Fortune 500 corporations. She is a presidential appointee currently serving as one of the five members in the U.S. Treasury Department’s Community Development Financial Institutions (CDFI) Fund Community Advisory Board and also hosts the television show Owning a Piece of America.

Ann Houston

Board Member


Founder and CEO of Opportunity Communities

Ms. Houston is the Founder and CEO of Boston-based Opportunity Communities, an organization with a mission to improve the capacity and efficiency of local community developers. Prior to stepping... into this role, she led The Neighborhood Developers (TND) as Executive Director. During her tenure, TND completed over $85 million of real estate development, including building the Box District, a recipient of the 2014 Urban Institute Jack Kemp Award for Excellence in Affordable and Workforce Housing. Ms. Houston serves on the board of MHIC, a New England CDFI lender and investor, and the Multifamily Advisory Board of MassHousing, Massachusetts’ Housing Finance Agency. She is also a commissioner of the Newton Housing Authority.

Susan Ifill

Board Member


COO of NeighborWorks America

Ms. Ifill was named Executive Vice President and COO of NeighborWorks America in October 2019. Prior to this appointment, she was CEO of Neighborhood Housing Services of New York City. She has served on... numerous nonprofit boards and currently serves as the Chair of the board of trustees for Cambridge College in Boston, on the board of directors for the Habitat for Humanity NYC Community Fund and on the Ocwen Financial Community Advisory Board. Before entering the nonprofit world, Ms. Ifill was the Senior Vice President and Chief Retail Officer for Carver Federal Savings Bank in New York. Prior to that, she was Senior Vice President and Premier Banking Market Manager at Bank of America.

Janice Jensen

Board Member


President and CEO of Habitat for Humanity East Bay/Silicon Valley

Ms. Jensen has more than 30 years of experience in nonprofit management, primarily in the fields of healthcare and affordable housing. She serves as Vice Chair of the... board of directors for Silicon Valley@Home. She is also a board member of the Habitat for Humanity California State Support Organization and the Nonprofit Housing Association of Northern California and serves on the board of governors for the California Housing Consortium. She was Vice Chair of Habitat for Humanity International’s U.S. Council and chaired the U.S. Policy Committee. In 2017, the Silicon Valley Business Journal honored her as a “Woman of Influence.”

Our Long-Standing Partnership with Operation HOPE

Operation HOPE creates pathways out of poverty for young adults by giving them the tools and resources to improve their financial literacy. Founded by John Hope Bryant in 1992, the organization has provided financial coaching to over 2 million adults, primarily in communities of color, helping them reduce debt, increase their savings and reduce home mortgages.

Mr. Bryant’s relationship with First Republic started at Operation HOPE’s founding and is based on a shared commitment to uplifting communities in need. Today, the Bank’s enduring financial support has helped Operation HOPE expand the reach of their pandemic relief and assistance programs. In turn, Mr. Bryant brings his decades of experience in community development to First Republic’s Community Advisory Board.

Supporting Affordable Housing and Home Ownership

Affordable housing

Affordable housing makes our communities more inclusive by providing adequate housing for people from a broader range of economic backgrounds. We are focused on producing and preserving affordable housing through community development loans and low-income housing tax credits (LIHTC) to ensure that all feel welcomed in our communities.

As part of our commitment to affordable housing, we have adopted a policy of anti-displacement financing. This policy is put into practice with controls throughout the due diligence, underwriting and monitoring phases of the lending process. The purpose of this policy is to prevent displacement financing and combat inappropriate practices including tenant harassment and unsafe living conditions.

From 2011 to 2020, First Republic originated $9.2 billion in community development loans, of which $5 billion of such loans were used to finance the acquisition and maintenance of affordable rental units in our communities. In 2020, more than 80% of our community development loans are located in predominantly minority neighborhoods.

LIHTC investments subsidize the acquisition, construction and rehabilitation of affordable rental housing for low- to moderate-income tenants. Since 2010, the Bank has committed over $2 billion in LIHTC funds, which directly contributed to the development of over 118,000 affordable rental units for low-income tenants nationwide, the majority of whom are minorities. To put this in perspective, we have financed approximately one affordable rental unit for every single family residential loan we originated over the same period.

Home ownership

Home ownership can have a positive impact on the homeowner as well as the broader community. We strive to help more people achieve this goal through designated bank-led programs and partnerships with income-restricted mortgage assistance programs (IRMAs).

Our Eagle Community Home Loan program is designed to help individuals in historically underserved communities — including predominantly African American / Black and Hispanic / Latinx communities and low- to moderate-income individuals — become homeowners. We offer attractive rates and terms to participants who are buying or refinancing a primary residence in our designated areas or are low- to moderate-income. First Republic has dedicated Community Outreach Relationship Managers focused on this program, which is also broadly supported by all our Relationship Managers.

Since inception in 2015, we have made more than 8,200 Eagle Community Home Loans totaling $3.6 billion, and 55% of these loans were made to minority individuals.

In addition to the Eagle Community Home Loans, we have partnered with income-restricted mortgage assistance (IRMA) programs to reach a greater number of low- to moderate-income borrowers. These programs offer substantial subsidies and flexible underwriting to help low- to moderate-income and workforce families achieve homeownership.
First Republic is a participating lender in over 70 such programs at the city and state level, and the number continues to grow.

Partnerships for Affordable Housing, Home Ownership and Developing Our Local Economies

San Francisco Housing Accelerator Fund

The San Francisco Housing Accelerator Fund is a cross-sector fund that provides dynamic financing tools to help produce and preserve affordable rental housing in San Francisco. First Republic made a critical funding commitment at the inception of the Fund and subsequently increased it to $100 million in 2020. Our ongoing commitment enables the Fund to provide low-cost loans for acquiring vacant land for affordable housing development and preserving larger existing properties that are at risk of being converted to market rate units.

Habitat for Humanity

Habitat for Humanity partners with families and individuals in a homeownership program to build simple and affordable housing in the local communities they serve. First Republic has established strong partnerships with 10 Habitat for Humanity affiliates, such as Habitat for Humanity East Bay/Silicon Valley, across the Bank’s footprint. Through purchasing and direct funding of Habitat home loans, we provide capital to enable the affiliates to build affordable homes for low-income, first-time homebuyers. Since 2011, First Republic has funded $76 million in home loans, helping 332 low-income families to achieve their dreams of homeownership.

Bay’s Future Fund

The Bay’s Future Fund seeks to address the Bay Area’s affordable housing crisis through a three-pronged strategy — production, preservation and protection. The Fund is part of the Partnership for the Bay’s Future, a multisector initiative involving a broad array of stakeholders who are committed to addressing the severe lack of affordable housing in the region. Partners and funders include corporations, foundations, government agencies and community organizations who share a common vision to create and maintain vibrant, inclusive communities of racial and economic diversity.

California Rebuilding Fund

The California Rebuilding Fund is a public-private partnership that drives capital to Community Development Financial Institutions (CDFIs) to stimulate economic growth by supporting entrepreneurs and small businesses. The CDFI lenders will offer standardized loans up to $100,000 with affordable and flexible terms. These loans are intended to support businesses that are adapting their business to operate safely in a post-COVID economy. First Republic is committed to helping the small businesses in our communities and is one of two banks to initially fund this effort.

Developing our local economies

Through ongoing dialogue with community groups and government agencies, First Republic continually evaluates community needs and explores partnership opportunities to engage our low- to moderate-income and underserved communities. Our economic development strategy includes making community development loans for economic development, community service and revitalization, lending to small businesses and investing in CRA-qualified municipal bonds.

To implement this strategy we partner with Minority Depository Institutions (MDI), Community Development Financial Institutions (CDFI) and Community Development Corporations (CDC).

Of the $9.2 billion of community development loans originated from 2011 to 2020, $4.2 billion were made to develop our local economies through economic development, community service, and revitalization and stabilization.

Small businesses are a vital part of our communities. We support small business development by offering special lending programs and actively reaching out to the small business community to help finance their operations and expansion. Since 2011, we have provided $5.4 billion in loans to small businesses.

First Republic invests in municipal bonds for Title-I school districts which have large concentrations of low-income students. These bonds help the school districts meet their financing requirements. Since 2011, First Republic has invested nearly $370 million in such bonds.

Paycheck Protection Program (PPP)

The COVID-19 pandemic disproportionately affected small businesses, many of which have struggled to survive. When the PPP was enacted under the CARES Act in April 2020, First Republic acted swiftly, establishing a brand-new process to serve clients in need of a PPP loan. Our colleagues worked around the clock to process as many loans as possible and help qualified small businesses obtain the funds they needed to survive. In total, the Bank delivered over 11,500 loans, supporting an estimated 250,000 jobs.

First Republic colleagues helped support an estimated 250,000 jobs through their tireless efforts in processing PPP loans on behalf of small business and nonprofit clients.

What our Clients Say

Volunteering and giving

First Republic increased its volunteer corps by 20% in 2020 in order to address the needs of our communities during this challenging time.

As the bank for nonprofits, we have deep relationships with many of these service-driven organizations that strive to make our communities better. In fact, our earliest business banking clients were nonprofit organizations and independent schools that were supported by our personal banking clients. Over time, we became uniquely positioned to help our nonprofit clients achieve success. Beyond banking we provide networking and roundtable events and offer tools to assist with essential activities such as fundraising and grant writing. Today, we have over 4,200 nonprofit clients and 25% of all our business loans outstanding are to nonprofit organizations and independent schools.

Our support of nonprofits also includes volunteering and charitable giving because service is in our nature. To encourage positive action, we provide each of our colleagues with two days per year of paid time to volunteer at nonprofit organizations that enrich our communities. We have a network of more than 30 Volunteer Ambassadors across the company who work within their teams to pair colleagues with volunteer opportunities that match their skill set or passion. Many of our colleagues also dedicate their personal time to supporting causes that they are passionate about. More than 300 First Republic colleagues serve as a board or committee member of a nonprofit organization.

In 2020, we ran a colleague campaign to increase our volunteer participation by 20%. We exceeded this goal with over 2,280 of our colleagues participating in volunteer events, dedicating over 21,500 total hours volunteered. Through this activity we were able to support more than 710 nonprofits. While we support a wide range of nonprofits, we have a particular passion for health and human services, education and arts for all. In addition to our colleagues’ volunteering efforts, the bank supported 790 nonprofits with charitable contributions and grant awards.

Health and human services


Feeding America

To help with hunger relief during the COVID-19 pandemic, First Republic partnered with Feeding America® to provide over 5.2 million meals1 to people facing hunger, engaging our colleagues and clients in a coordinated giving effort.

As part of this effort, we made a donation to Feeding America® when clients deposited a check through our mobile app or used Zelle for the first time. In total, 25% of clients responded to this opportunity.

1 $1 helps to provide at least 10 meals secured by Feeding America® on behalf of local member food banks.


Big Brothers Big Sisters of Eastern Massachusetts

First Republic supports Big Brothers Big Sisters of Eastern Massachusetts’ mission of partnering with under-resourced families to provide their children with transformational, one-to-one professionally supported relationships with caring adult mentors, so that their children will thrive.

In 2020, First Republic sponsored the organization’s largest annual fundraiser, Big Night, which honors the brave and resilient children that they serve and raises funds to create future Big-Little matches. We are proud to have a colleague who sits on the Board of Advisors for Big Brothers Big Sisters of Eastern Massachusetts.


Empowering Financial Education

Education provides a path to opportunity which can have a positive, lasting effect on our communities. We developed two colleague-led programs to educate participants of all ages on key topics and to help them gain confidence and grow their knowledge of financial literacy.

Financial Scholars Program

This financial education program offers grade-school students the opportunity to earn certificates in financial topics including responsible choices, credit, borrowing, planning and investing.

Since its launch in 2014, the First Republic Financial Scholars program has reached over 27,3001 students.

1 EVERFI, Inc., 2020 Financial Impact Report.

Financial Focus Program

The Bank offers a series of short, interactive learning experiences to help adults gain a clear understanding of critical topics including credit scores, insurance, taxes and identity protection.

In 2020, the Financial Focus Program in partnership with EVERFI reached more than 1,300 individuals.1


Enterprise for Youth

Enterprise for Youth empowers under-resourced San Francisco youth to reach their potential through transformative paid internship experiences supported by a community of employers, caring adults and peers.

First Republic is deeply committed to helping San Francisco youth reach their potential and has partnered with Enterprise for Youth for 10 years. We prepare students for interviews and career opportunities through resume building workshops and career coaching sessions. We are proud to have a colleague serve on Enterprise for Youth’s Board of Directors.


The Posse Foundation

The Posse Foundation identifies, recruits and trains individuals with extraordinary leadership potential and sends them to top colleges and universities in teams or “Posses.” The Foundation believes that a small, diverse group of talented students, carefully selected and trained, can serve as a catalyst for individual and community development. Posse Scholars reflect the country’s rich demographic mix and represent a uniquely diverse leadership pipeline.

First Republic supports two Posses from Los Angeles. We are proud to have a colleague serve on the Posse Foundation’s Board of Directors.

Arts for all


American Ballet Theatre

Recognized as America’s National Ballet Company®, American Ballet Theatre (ABT) is committed to reflecting and celebrating the diversity and dynamism of this country. First Republic shares these values and is a proud partner of American Ballet Theatre.

First Republic’s 2020 partnership with ABT focused on supporting “ABT Today: The Future Starts Now,” an 80th anniversary program of world premieres exemplifying innovation and publicly launching ABT RISE: Representation and Inclusion Sustain Excellence.


New-York Historical Society

Founded in 1804, the New-York Historical Society is one of America’s preeminent cultural institutions. It is dedicated to fostering research and presenting exhibitions and public programs both on-site and online that reveal the dynamism of history and its influence on the world of today. First Republic supports New-York Historical’s Center for Women’s History, which explores the untold stories of women who have shaped — and continue to shape — the American experience. First Republic is proud to partner with the New-York Historical Society and to have a colleague serve as a New-York Historical committee member.

Eagle Cares: Employee Volunteerism

In 2020, over 2,280 First Republic colleagues participated in volunteer events through our Eagle Cares Volunteerism program, representing more than 40% of our total colleagues. We are proud to have so many colleagues who are dedicated to supporting their local communities.

In particular, two colleagues have gone above and beyond with their commitment:

Bob G., Managing Director, Wealth Manager

Bob joined Marin County Sheriff’s Office Search and Rescue Unit in 2011 and since then has volunteered over 5,000 hours to the organization. Serving as a Team Director and as a Search Manager, Bob has helped with efforts ranging from fire evacuation to planning the logistics of COVID-19 vaccinations.

Nadine B., Senior Preferred Banker

Nadine channels her passion for animal rescue by volunteering more than 20 hours per week with local animal rescue organizations. Her primary focus is saving cats and kittens from euthanasia and finding them homes for adoption. She also sterilizes and vaccinates free-roaming community cats, helps with adoption fairs, hosts seminars for training communities about the importance of spay and neuter programs, and responds to calls for lost and found cat and dog microchip scans.

I am proud to be a part of two families with very similar missions, First Republic and the Marin County Sheriff ’s Office Search and Rescue Unit. For me, they are both about service and managing risk. I am thankful for our leadership which allows me to participate fully in both communities.”
Bob G., Managing Director, Wealth Manager
Volunteering always makes a difference and no act of kindness or time-giving is too small. First Republic provides our teams with resources and opportunities, year-round, to contribute and give back to our communities. It is just one more reason why I am proud to be a part of our amazing organization.”
Nadine B, Senior Preferred Banker

Managing Our Impact on the Environment

As a responsible member of our communities, we are focused on managing our impact on the environment and supporting clients in managing their impact.

The following are some of the ways we have worked to reduce our environmental footprint over several years:

  • We installed solar energy panels to reduce our overall energy consumption at many of our offices in the San Francisco Bay Area.
  • Through our comprehensive paper and plastic recycling program we recycled over 380 tons of paper and saved over 6,600 trees in 2020 alone.
  • We encourage colleagues to use public transportation by offering a commuter transit subsidy.
  • In 2017, we launched a new loan origination system that supports paperless loan files, an effort that we estimate has reduced our paper usage in 2020 by approximately 69 tons.
  • In 2019, we launched Eagles for Earth, an environmental-focused Colleague Community.
  • We do not lend to carbon-intensive industries such as oil and gas.

In addition to these programs, we support clients in their efforts to be stewards of the environment. We serve more than 100 environmentally focused nonprofit organizations and offer banking and wealth management solutions for environmentally conscious clients.

First Republic Green Discount for Clients

We incentivize positive environmental behavior with our clients by offering the First Republic Green Discount on loans for LEED-certified commercial and construction programs.

Portfolio Management Choices for Clients

Our wealth management offerings are customized to meet the objectives of each client we serve. We utilize an open architecture platform that provides a wide range of investment options from highly regarded providers and allows our wealth managers to provide unbiased advice.

Increasingly, clients are seeking to align their portfolios with their values. Our dedicated environmental, social and governance (ESG) research team seeks to provide best-in-class investment options and other solutions that are mindful of ESG factors.

We believe that clients can achieve ESG and financial objectives without sacrificing returns by selectively investing in high-quality companies with leading track records across all sectors. This approach includes investments in equities, fixed income, third-party managers and alternatives.

During 2020, in response to stakeholder feedback, we engaged Corporate Citizenship, a global consultancy that helps businesses find their place in society. Over the next year, Corporate Citizenship will work closely with a First Republic team, led by the Bank’s Chief Operating Officer, to further identify and focus our environmental impact initiatives. For information about how we manage the environment’s impact on First Republic, please see Managing Climate Change Related Risk.

Eagles for Earth

An employee-run Colleague Community with the goal of facilitating environmental stewardship — the responsible use, impact reduction and protection of the natural environment through conservation and sustainable practices — Eagles for Earth seeks to positively impact communities in the First Republic footprint.

Founded on Earth Day in 2019, the group consists of over 100 passionate colleagues across our regions.

First Republic operates with a low physical footprint relative to our size.

In 2018, we were recognized by Bank Director Research Group for “Best Branch Network Strategy — Overall.” This ranking was based on quantitative metrics to measure the efficiency of banks’ branch networks as well as qualitative factors to assess branding, innovation and alignment with strategic goals.

Number of Branches

First Republic Bank
$50-$250B Total Assets
U.S. Bank Average2

Assets Per Branch

First Republic Bank
$50-$250B Total Assets
U.S. Bank Average2

Number of Employees1

First Republic Bank
$50-$250B Total Assets
U.S. Bank Average2

Assets Per Employee

First Republic Bank
$50-$250B Total Assets
U.S. Bank Average2

1 Represents full-time equivalent employees, including temporary employees and independent contractors as of December 31, 2020.

2 $50-$250B Total Assets U.S. Bank group is based on top-tier bank holding companies, commercial and savings banks, ranked by total assets as of December 31, 2020. FRC and U.S. subsidiaries of foreign banks are excluded. Broker-dealers, regulated depositories and specialty lenders are also excluded based on differences in their business models. Data is sourced from S&P Global Market Intelligence.

We Serve More Than 100 Environmentally Focused Nonprofit Organizations


The Center for Sustainable Energy (CSE)

The Center for Sustainable Energy (CSE) is a nonprofit energy program administration and advisory services organization. They have a long- standing subject and market transformation expertise in renewable energy, clean transportation, building performance and energy efficiency — and understand the policies and regulations that influence their effective implementation.


The Climate Trust

The Climate Trust is a nonprofit formed in 1997 that combats climate change by funding and managing projects that reduce greenhouse gas emissions. The Climate Trust specializes in nature-based carbon offsets and its projects have avoided or removed 5.6 million metric tons of greenhouse gas emissions from the atmosphere.