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
Allegiant Air will start offering service from Newark Liberty International Airport, after the low-cost airlines received approval from the Federal Aviation Administration. Allegiant will begin offering flights in November between Newark and Cincinnati, Ohio; Savannah, Georgia; Asheville, North Carolina... Theme park chain Six Flags Entertainment Corp. (SIX) announced that it is in "discussions" with the Kingdom of Saudi Arabia to open multiple amusement parks in the conservative Muslim kingdom. Texas-based Six Flags Entertainment says it "has initiated discussions with the government of Saudi Arabia... Uber has developed new software that will track and inform drivers of the ride-hailing app about things like sudden acceleration, harsh braking or whether they are holding their phones while driving. The software is part of an updated version of Uber's app for drivers.
comments powered by Disqus
Follow RTT