First Republic Bank Announces Offer of Common Shares

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SAN FRANCISCO – (BUSINESS WIRE) – First Republic Bank (“First Republic”) (NYSE: FRC), a leading private bank and asset management company, announced today that it has agreed to sell 1,500,000 shares of common stock in a public takeover offer. First Republic has also given the syndicate banks a 30-day option to purchase up to 225,000 additional shares in First Republic. BofA Securities, JP Morgan and Morgan Stanley act as joint accounting managers.

First Republic intends to use the net proceeds of the Offering for general corporate purposes, which may include, but are not limited to, the financing of loans or the purchase of securities for its portfolio.

The offering is expected to close on or about March 4, 2021, subject to customary closing conditions.

The offer is made exclusively by means of an offer circular. The preliminary offer circular for the offer will be available at www.frc-offering.com and on a current report on Form 8-K filed with the Federal Deposit Insurance Corporation. Copies of the Provisional Offer Circular are also available from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, or email: [email protected]; from JP Morgan Securities LLC, c / o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling 1-866-803-9204 or emailing [email protected]; or from Morgan Stanley – e.g. Hd .: Prospectus Department – 180 Varick Street, 2nd Floor – New York, New York 10014.

This press release is provided for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy the Securities, nor will any sale of the Securities be made in any state or jurisdiction in which such offer, solicitation or solicitation such sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The securities are not insured or approved by the Federal Deposit Insurance Corporation or any other government agency.

Via First Republic Bank

Founded in 1985, First Republic and its subsidiaries provide private banking, private business banking and private wealth management, including investment, fiduciary and brokerage services. First Republic specializes in delivering exceptional, relationship-based services and offers a full line of products including residential, commercial and personal loans, deposit services and wealth management. Services are provided through preferred banking or asset 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, Wyoming. First Republic is part of the S&P 500 Index and the KBW Nasdaq Bank Index.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements relating to First Republic’s expectations, beliefs, plans, predictions, forecasts, goals, assumptions, or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, identified by the use of words or phrases such as “expects”, “believes”, “may”, “could”, “can”, “predicted”, “potentially”, “should,” ” will, ”“ estimates, ”“ planet, ”“ projected, ”“ ongoing, ”“ ongoing, ”“ expects, ”“ intends, ”and similar words or expressions. Accordingly, these statements are only predictions and contain estimates, known and unknown risks, assumptions and uncertainties that could cause actual results to differ materially from the results expressed. All forward-looking statements are necessarily estimates of future results and no assurance can be given that actual results will not differ materially from expectations. Therefore, you are cautioned not to rely on such statements. All forward-looking statements are limited in their entirety by reference to the factors discussed in the section entitled “Risk Factors” in First Republic’s preliminary offering circular with respect to this offer, including the documents contained therein, and to other risks that documents described in the following are filed by the First Republic from time to time under the Securities Exchange Act of 1934, as amended. In addition, any forward-looking statement speaks only as of the date on which it is made and First Republic assumes 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 unforeseen events.

Investors:

Andrew Greenebaum / Lasse Glassen

Addo communication

[email protected]

[email protected]

(310) 829-5400

Media:

Greg Berardi

Blue Marlin partners

[email protected]

(415) 239-7826

Source: First Republic Bank


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