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
United Parcel Service, Inc. has started to test the use of drones to make commercial deliveries of packages to remote or difficult-to-access locations. On Thursday, the package delivery giant and drone-maker CyPhy Works staged a mock delivery of urgently needed medicine from Beverly, Massachusetts to Children's Island, which is about three miles off the Atlantic coast. Luxury electric car maker Tesla Motors Inc. (TSLA), Thursday filed a lawsuit against state officials over its right to sell vehicles directly to consumers in Michigan. The lawsuit has been filed against Governor Rick Snyder, Secretary of State Ruth Johnson and Attorney General Bill Schuette as defendants. Tesla... e.l.f. Beauty (ELF), a maker of cosmetic products, priced its initial public offering above its target range and raised about $141 million. The Oakland-based company opened sharply up on Thursday's trading on the New York Stock Exchange. The company said it sold about 8.3 million shares at $17 in...
comments powered by Disqus
Follow RTT