First Republic Bank Announces Closing of Initial Public Offering Fourth Quarter 2010

First Republic Bank, December 14, 2010

First Republic Bank (“First Republic”) (NYSE: FRC), a private bank and wealth management company, today announced the closing of its initial public offering of common stock. First Republic and certain selling shareholders offered and sold a total of 12,650,000 shares of its common stock to the public (including shares sold upon the exercise of the underwriters’ option to purchase an additional 1,650,000 shares) at $25.50 per share. The offering priced on December 8, 2010.

Total net proceeds from the public offering to First Republic were $109.8 million, after deducting the underwriters’ discount, commissions and estimated offering expenses. First Republic did not receive any proceeds from the sale of common stock by the selling shareholders, none of whom sold more than 7.5% of their total shares.

BofA Merrill Lynch, Morgan Stanley and J.P. Morgan were the joint book-running managers. The co-managers were Barclays Capital, Jefferies & Company, Keefe, Bruyette & Woods, Sandler O’Neill & Partners, L.P. and StifelNicolaus Weisel.

First Republic Bank is a California-chartered, FDIC-insured commercial bank and trust company. As of September 30, 2010, its assets totaled $22.0 billion, its deposits were $19.0 billion, its wealth management assets totaled $17.2 billion and loans serviced for others totaled $3.7 billion.

Together with its affiliates, First Republic specializes in providing full-service preferred banking, preferred business banking, real estate lending and wealth management services to clients through 61 offices in the following metropolitan areas: San Francisco; Palo Alto; Los Angeles; Santa Barbara; Newport Beach; San Diego; Portland; Boston; Greenwich and New York City. First Republic was founded in 1985 and is headquartered in San Francisco, California.

Andrew Greenebaum / Lasse Glassen
Addo Communications
(310) 829-5400


Greg Berardi
Blue Marlin Partners
(415) 239-7826