logo
Share SHARE
FONT-SIZE Plus   Neg

First Republic Bank Q1 Profit Rises - Quick Facts

First Republic Bank (FRC) announced financial results for the quarter ended March 31, 2012. Net income available to common stockholders was $89.31 million for the first quarter of 2012, compared to $88.8 million for last year's first quarter. Earnings per share were $0.67 for the first quarter of 2012 and 2011.

Excluding the impact of purchase accounting, net income was $68.1 million, up 25% from last year's first quarter. On this basis, earnings per share were $0.49, up 20% from last year's first quarter.

Total revenues were $313.9 million for the first quarter of 2012, compared to $285.6 million for the first quarter a year ago.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.66 per share on revenues of $283.75 million for the quarter. Analysts' estimates typically exclude special items.

First Republic also announced plans to initiate a quarterly cash dividend of $0.10 per share on its common stock. Subject to declaration by First Republic's Board of Directors, the Bank expects to commence payment during the third quarter of 2012 following the release of second quarter results.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Microsoft Corp. (MSFT) has cut the price of Xbox One bundles by $50 ahead of next month's Electronic Entertainment Expo. The 500GB Xbox One bundled with either Quantum Break, Gears of War: Ultimate Edition, The Lego Movie Videogame, Forza Motorsport 6, Rise of the Tomb Raider, or Rare Replay is now... Red-hot Las Vegas beat other big cities to become the best and most budget-friendly summer travel destination this year, according to financial website WalletHub. WalletHub's Shares of Allergan plc rose in early trades Tuesday after billionaire investor Carl Icahn said he recently acquired a "large position" in the Botox maker and was very supportive of CEO Brent Saunders. Icahn did not disclose details of the stake he acquired in Allergan.
comments powered by Disqus
Follow RTT