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First Republic Bank closes public offering of depositary shares

First Republic Bank completed the public offering of 8 million depositary shares on June 7.

Sold at $25 apiece, each depositary share represents a 1/40th interest in a share of 5.125% noncumulative perpetual series H preferred stock.

On June 2, the San Francisco-based bank filed a certificate of determination with the Secretary of State of the State of California setting forth the rights, privileges, preferences and restrictions of its series H preferred stock. The stock has a liquidation preference of $1,000 per share.