First Republic Bank
FRC-PN
New York Stock Exchange1.76
USD
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First Republic Bank
FRC-PN
(New York Stock Exchange)
Recent
price
1.76
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 (FRC-PN), founded in 1985 and formerly headquartered in San Francisco, California, operates as a defunct commercial bank and provider of private banking, private business banking, real estate lending, and wealth management services including trust, custody, brokerage, and investment management to high-net-worth individuals and businesses. The bank maintains offices across 11 U.S. states, with primary operations in California, New York, Massachusetts, and Florida; it offers checking, money market, and savings accounts alongside home, commercial, personal, business, and education loans. Core services emphasize personalized, relationship-based delivery in select metropolitan areas such as San Francisco, New York City, Los Angeles, Boston, and Palm Beach. In May 2023, amid the U.S. banking crisis, California regulators closed First Republic Bank due to massive deposit outflows exceeding $100 billion from uninsured high-net-worth clients, a loan-to-deposit ratio over 100%, and liquidity shortfalls, prompting the FDIC to seize assets and auction them. JPMorgan Chase acquired substantially all assets, including $173 billion in loans, $30 billion in securities, and $92 billion in deposits, for $10.6 billion, marking the second-largest U.S. bank failure after Washington Mutual. Trading continues over-the-counter under FRCB/FRC-PN symbols at negligible values, with no ongoing operations or revival.