First Republic Bank Completes $233.9 Million Offering of Shares of Common Stock

March 10, 2017

S&C client First Republic Bank completed an underwritten public offering of 2,500,000 shares of common stock at a price per share to the underwriters of $93.56 for net proceeds of approximately $233.9 million. The offering was structured as an underwritten block trade.

Founded in 1985, First Republic is a California-chartered commercial bank headquartered in San Francisco. First Republic and its subsidiaries offer private banking, private business banking and private wealth management, including investment, trust and brokerage services. As of December 31, 2016, First Republic had total assets of $73.3 billion, total deposits of $58.6 billion, total equity of $6.9 billion and wealth management assets of $83.6 billion.

The S&C team representing First Republic includes Catherine Clarkin, John Miller, Stephen Wilson and Andrew Rogers. Patrick Brown advised on California law matters. Eric Wang, Saul Brander and Slki Hong advised on tax matters. Saul Brander and Andrew Motten advised on ERISA matters.