First Republic: Credit Ratings

First Republic Bank’s credit ratings reflect consistently strong capital levels, asset quality and liquidity.

As of December 31, 2021

Bank Credit Ratings


	Moody’s	Standard & Poor’s	Fitch
Long-Term Deposits¹	A1	A-	A
Corporate Long-Term	A1	A-	A-
Long-Term Issuer	Baa1	A-	A-
Short-Term Credit²	P-1	NR	F1
2.50% Senior Fixed-Rate Notes Due 2022	Baa1	A-	A-
1.912% Senior Fixed-to-Floating Rate Notes Due 2024	Baa1	A-	A-
4.375% Subordinated Notes Due 2046	Baa1	BBB+	BBB+
4.625% Subordinated Notes Due 2047	Baa1	BBB+	BBB+

As of December 31, 2021

Bank Preferred Stock Ratings


	Moody’s	Standard & Poor’s	Fitch
5.125% Noncumulative Perpetual Series H Preferred Stock	Baa3	BBB-	BB+
5.50% Noncumulative Perpetual Series I Preferred Stock	Baa3	BBB-	BB+
4.70% Noncumulative Perpetual Series J Preferred Stock	Baa3	BBB-	N/A
4.125% Noncumulative Perpetual Series K Preferred Stock	Baa3	BBB-	N/A
4.25% Noncumulative Perpetual Series L Preferred Stock	Baa3	BBB-	N/A
4.00% Noncumulative Perpetual Series M Preferred Stock	Baa3	BBB-	N/A
4.50% Noncumulative Perpetual Series N Preferred Stock	Baa3	BBB-	N/A

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.

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.