CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

First Republic Bank beats Wall Street in Q3

By Robert Davis

16:48, 13 October 2021

Front view of First Republic Bank
First Republic Bank – Photo: Shutterstock

Shares of First Republic Bank (FRB) were up nearly 3% on Wednesday morning after the company released fiscal earnings showing the San Francisco-based bank beat Wall Street expectations in its fiscal Q3 2021.

At noon, the shares traded at $206.23 (£151.13), a gain of $5.50 per share.

Earnings details

According to the company’s earnings statement, FRB reported revenues of $1.3bn, up 30% from a year ago. The bank’s net interest income also increased by 26.7%, coming in at $1.1bn in Q3.

Overall, the company’s net income was $367m, up 26% from Q3 2020.

FRB paid out a cash dividend of $0.22 per share as well, which will be payable to shareholders on 12 November.

It also reported diluted EPS of $1.91 compared to Wall Street estimates of $1.84 per share, according to analysts at MarketBeat.

Over the last three years, FRB’s earnings per share have increased by more than 17%.

Jim Herbert, founder and co-CEO of FRB, described Q3 in a press release as “a strong quarter of growth.”


1,964.00 Price
+1.240% 1D Chg, %
Long position overnight fee -0.0185%
Short position overnight fee 0.0103%
Overnight fee time 21:00 (UTC)
Spread 0.30


0.53 Price
+0.320% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.00404


26,546.40 Price
+0.560% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 60.00

Oil - Crude

71.22 Price
-1.810% 1D Chg, %
Long position overnight fee -0.0153%
Short position overnight fee -0.0066%
Overnight fee time 21:00 (UTC)
Spread 0.03

“Our client-centric business model continues to perform very well across all our segments and markets,” Herbert said.

Into the future

Looking ahead, the company says its growth in loans and wealth management clients will help propel it into the future.

In Q3, FRB originated a company record of $15.5bn in loans. It also increased its wealth assets by 49.7% up to $251.7bn. At the same time, wealth management revenues increased by 65.1% up to $209.3m.

Hafize Gaye Erkan, Co-CEO and president of FRB, said the bank’s quarterly performance reflects its continued credit quality.

In Q3, FRB reported net charge-offs of just $292,000, or less than 1 basis point of average loans. Nonperforming assets also remained low at just 7% of total assets.

“Credit quality remains excellent, further reflecting the safety and stability of First Republic,” he said in a statement.

Read more: Pensions think-tank puts a value on financial advice

Related topics

Rate this article

Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Still looking for a broker you can trust?

Join the 535.000+ traders worldwide that chose to trade with

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading