First Republic Bank
FRC-PK
New York Stock Exchange1.64
USD
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First Republic Bank
FRC-PK
(New York Stock Exchange)
Recent
price
1.64
P/E
ratio
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div
yld
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ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- First Republic Bank (FRCB.PK) operates as a commercial bank and trust company specializing in personalized services for high-net-worth individuals and businesses, including private banking; private business banking; real estate lending; wealth management services such as investment management, brokerage, trust and custody; savings accounts with competitive interest rates; checking accounts including ATM rebate and money market checking options; money market accounts; certificates of deposit (CDs); and individual retirement accounts (IRAs), with online and mobile banking access across branches, ATMs, and digital platforms. Founded in 1985 and formerly headquartered in San Francisco, California, the bank conducted operations through approximately 93 offices in 11 states, primarily in California, New York, Massachusetts, and Florida, targeting affluent private clients and businesses with relationship-based financial solutions. In May 2023, amid the U.S. banking crisis, the FDIC closed First Republic Bank and facilitated its sale to JPMorgan Chase, which acquired the substantial majority of its assets including approximately $173 billion in loans, $30 billion in securities, and $92 billion in deposits, while assuming certain liabilities under loss-share agreements; the bank's branches reopened under JPMorgan Chase on May 1, 2023, maintaining client services. Subsequently, in early 2025, JPMorgan Chase divested First Republic Trust Company of Delaware to JTC Group for $21 million, completing the transaction in February 2025 to enhance JTC's U.S. trust services proposition. The bank's common shares now trade over-the-counter under the FRCB.PK or FRC-PK ticker following the FDIC resolution, with no assumption of First Republic's corporate debt or preferred stock by JPMorgan Chase.