First Republic Bank (FRC) Misses Q2 EPS by 4c
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First Republic Reports Strong Second Quarter 2017 Results
July 14, 2017 8:00 AM EDTYear-Over-Year Revenues Increased 20% and Wealth Management Assets Exceeded $95 Billion
SAN FRANCISCO--(BUSINESS WIRE)-- First Republic Bank (NYSE: FRC) today announced financial results for the quarter ended June 30, 2017.
First Republic had a very good quarter, driven by strong growth of loans, deposits and wealth management assets, said Jim Herbert, Chairman and CEO. Credit quality remains excellent, and the Bank continues to be well-capitalized.
Quarterly Highlights
Financial Results
Year-over-year:
Revenues were $641.3 million, up 19.9%.
Net interest income was $532.0 million, up 20.5%.
Net income was $186.6... More
