As of March 15, 2023

Bank Credit Ratings

Moody’s Standard & Poor’s Fitch
Long-Term Deposits1 A1 BB+ BB+
Corporate Long-Term A1 BB+ BB
Long-Term Issuer Baa1 BB+ BB
Short-Term Credit2 P-1 NR B
4.375% Subordinated Notes Due 2046 Baa1 BB- B+
4.625% Subordinated Notes Due 2047 Baa1 BB- B+

As of March 15, 2023

Bank Preferred Stock Ratings

Moody’s Standard & Poor’s Fitch
5.125% Noncumulative Perpetual Series H Preferred Stock Baa3 B B-
5.50% Noncumulative Perpetual Series I Preferred Stock Baa3 B B-
4.70% Noncumulative Perpetual Series J Preferred Stock Baa3 B B-
4.125% Noncumulative Perpetual Series K Preferred Stock Baa3 B B-
4.25% Noncumulative Perpetual Series L Preferred Stock Baa3 B B-
4.00% Noncumulative Perpetual Series M Preferred Stock Baa3 B B-
4.50% Noncumulative Perpetual Series N Preferred Stock Baa3 B B-
Source: S&P Global Market Intelligence

Credit ratings are specific to First Republic Bank. Agencies include Moody’s, Standard & Poor’s and Fitch. A credit rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal at any time by the assigning rating organization. DL0010


1Standard & Poor’s does not provide a long-term deposits rating. The corporate long-term rating is shown.

2NR = Not Rated. Standard & Poor’s no longer maintains a short-term credit rating on First Republic Bank.