|By PR Newswire||
|October 21, 2013 10:30 AM EDT||
SAN FRANCISCO, Oct. 21, 2013 /PRNewswire/ -- First Republic Bank ("First Republic") (NYSE: FRC), a private bank and wealth management company, today announced a public offering of depositary shares, each representing a 1/40th interest in a share of its Noncumulative Perpetual Series E Preferred Stock, at a public offering price of $25.00 per depositary share. In addition, First Republic will grant the underwriters an option for up to 30 days to purchase additional depositary shares at the public offering price less the underwriting discount.
First Republic expects to use the net proceeds from the offering for general corporate purposes, which may include, among other things, funding loans or purchasing investment securities for its portfolio.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC, Goldman, Sachs & Co. and J.P. Morgan Securities LLC are serving as joint book-running managers.
The offering will be made only by means of an offering circular. The preliminary offering circular relating to the offering is available at www.frc-offering.com. Copies of the preliminary offering circular may also be obtained from Merrill Lynch, Pierce, Fenner & Smith Incorporated, 222 Broadway, New York, NY 10038, attention: Prospectus Department, or e-mail [email protected], phone: 1-800-294-1322; from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, New York, New York 10014, or by email at [email protected]; from Wells Fargo Securities, LLC 1525 West W.T. Harris Blvd., NC0675, Charlotte, North Carolina 28262, Attention: Capital Markets Support, email: [email protected] or by calling toll-free at 1-800-326-5897; from Goldman, Sachs & Co., 200 West Street, New York, NY 10282, phone: (866) 471-2526; or from J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10017, Attn: Investment Grade Syndicate Desk, phone: (212) 834-4533.
About First Republic Bank
First Republic Bank is a full-service bank specializing in private banking and private business banking. The Bank's wealth management affiliates offer trust, investment consulting and advisory services. Founded in 1985, First Republic specializes in exceptional, relationship-based service offered through preferred banking or wealth management offices primarily in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach, San Diego, Portland, Boston, Greenwich, Palm Beach and New York City. 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 www.firstrepublic.com.
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.
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," "estimate," "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. 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.
SOURCE First Republic Bank
May. 1, 2016 09:30 AM EDT Reads: 945
May. 1, 2016 09:00 AM EDT Reads: 1,082
May. 1, 2016 08:45 AM EDT Reads: 586
May. 1, 2016 07:30 AM EDT Reads: 914
May. 1, 2016 07:00 AM EDT Reads: 796
May. 1, 2016 06:30 AM EDT Reads: 2,480
May. 1, 2016 04:15 AM EDT Reads: 1,736
Apr. 30, 2016 10:45 PM EDT Reads: 726
Apr. 30, 2016 10:00 PM EDT Reads: 1,119
Apr. 30, 2016 08:15 PM EDT Reads: 1,817
Apr. 30, 2016 05:30 PM EDT Reads: 729
Apr. 30, 2016 04:45 PM EDT Reads: 1,070
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, will discuss how research has demonstrated the value of Machine Learning in delivering next generation analytics to im...
Apr. 30, 2016 04:15 PM EDT Reads: 1,670
In the world of DevOps there are ‘known good practices’ – aka ‘patterns’ – and ‘known bad practices’ – aka ‘anti-patterns.' Many of these patterns and anti-patterns have been developed from real world experience, especially by the early adopters of DevOps theory; but many are more feasible in theory than in practice, especially for more recent entrants to the DevOps scene. In this power panel at @DevOpsSummit at 18th Cloud Expo, moderated by DevOps Conference Chair Andi Mann, panelists will dis...
Apr. 30, 2016 04:15 PM EDT Reads: 595