First Republic Bank (“First Republic”) (NYSE: FRC), a leading
private bank and wealth management company, today announced that it
has established an “at-the-market” equity offering program under
which it may sell up to 4,000,000 shares of its common stock.
First Republic has entered into an equity distribution agreement
with Keefe, Bruyette & Woods, a Stifel Company, BofA Merrill
Lynch, J.P. Morgan and Morgan Stanley in their capacity as First
Republic’s distribution agents. Pursuant to this agreement, sales
of shares of First Republic’s common stock may be made in
transactions that are deemed to be “at-the-market” offerings,
including sales made by means of ordinary brokers’ transactions on
the New York Stock Exchange or otherwise at market prices
prevailing at the time of sale or as agreed to with the applicable
distribution agent.
First Republic intends to commence offers to sell shares of its
common stock through the distribution agents promptly. First
Republic intends to use the net proceeds from any sales of shares
of common stock under the program for general corporate purposes,
which may include, among other things, funding loans or purchasing
investment securities for its portfolio.
The offerings will be made only by means of an offering
circular. The offering circular relating to the offerings is
available at www.frc-offering.com. Copies of the offering circular
may also be obtained from Keefe, Bruyette & Woods, Inc.,
Attention: Equity Capital Markets, 787 Seventh Avenue, 4th Floor,
New York, NY 10019, or by calling (800) 966-1559; BofA Merrill
Lynch, NC1-004-03-43, 200 North College Street, 3rd Floor,
Charlotte, North Carolina 28255-0001, Attention: Prospectus
Department, or email: dg.prospectus_requests@baml.com; from J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, New York 11717, or by calling
toll-free at (866) 803-9204; or from Morgan Stanley & Co. LLC -
Attn: Prospectus Department - 180 Varick Street, 2nd Floor - New
York, New York 10014.
This press release is for informational purposes only and shall
not constitute an offer to sell or a solicitation of an offer to
buy the securities, nor shall there be any sale of the securities
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction. The
securities are neither insured nor approved by the Federal Deposit
Insurance Corporation. The securities are exempt from registration
under the Securities Act of 1933, as amended, pursuant to Section
3(a)(2) thereof.
About First Republic
Bank
Founded in 1985, First Republic and its subsidiaries offer
private banking, private business banking and private wealth
management, including investment, trust and brokerage services.
First Republic specializes in delivering exceptional,
relationship-based service, with a solid commitment to
responsiveness and action. Services are offered through preferred
banking or wealth management offices primarily in San Francisco,
Palo Alto, Los Angeles, Santa Barbara, Newport Beach and San Diego,
California; Portland, Oregon; Boston, Massachusetts; Palm Beach,
Florida; Greenwich, Connecticut; New York, New York; and Jackson
Hole, Wyoming. First Republic offers a complete line of banking
products for individuals and businesses, including deposit
services, as well as residential, commercial and personal loans.
For more information, visit firstrepublic.com.
Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Statements about First Republic’s expectations, beliefs,
plans, predictions, forecasts, objectives, assumptions or future
events or performance are not historical facts and may be
forward-looking. These statements are often, but not always, made
through the use of words or phrases such as “anticipates,”
“believes,” “can,” “could,” “may,” “predicts,” “potential,”
“should,” “will,” “estimates,” “plans,” “projects,” “continuing,”
“ongoing,” “expects,” “intends” and similar words or phrases.
Accordingly, these statements are only predictions and involve
estimates, known and unknown risks, assumptions and uncertainties
that could cause actual results to differ materially from those
expressed in them. All forward-looking statements are necessarily
only estimates of future results, and there can be no assurance
that actual results will not differ materially from expectations,
and, therefore, you are cautioned not to place undue reliance on
such statements. Any forward-looking statements are qualified in
their entirety by reference to the factors discussed in the section
titled “Risk Factors” in First Republic’s preliminary offering
circular relating to this offering, including the documents
incorporated by reference therein, and other risks described in
documents subsequently filed by First Republic from time to time
under the Securities Exchange Act of 1934, as amended. Further, any
forward-looking statement speaks only as of the date on which it is
made, and First Republic undertakes no obligation to update any
forward-looking statement to reflect events or circumstances after
the date on which the statement is made or to reflect the
occurrence of unanticipated events.
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version on businesswire.com: https://www.businesswire.com/news/home/20181231005076/en/
Investors:Andrew Greenebaum / Lasse GlassenAddo Investor
Relationsagreenebaum@addoir.comlglassen@addoir.com(310)
829-5400
Media:Greg BerardiBlue Marlin
Partnersgreg@bluemarlinpartners.com(415) 239-7826
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