trending Market Intelligence /marketintelligence/en/news-insights/trending/M_WZ3Ys1nnI2AD5Xu4h0zg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

First Republic Bank net income jumps YOY in Q3

Key Credit Risk Factors When Assessing Banks In The Context Of COVID-19

Street Talk Episode 61 - Investors debate if U.S. banks have enough capital in post COVID world

You Down With PPP? Consider The Risks

Street Talk Episode 60 - You Down With PPP? Consider The Risks


First Republic Bank net income jumps YOY in Q3

San Francisco-based First Republic Bank reported third-quarter net income available to common shareholders of $222.1 million, or $1.31 per share, up from $196.4 million, or $1.19 per share, in the year-ago period.

The S&P Global Market Intelligence consensus GAAP EPS estimate for the second quarter was $1.21.

On a fully taxable-equivalent basis, net interest margin for the most recent quarter was 2.80%, a decrease from 2.85% in the previous quarter and a decrease from 2.94% in the year-ago period. First Republic Bank attributed the quarter-over-quarter decline to a more rapid decrease in the average yield on loans, compared to the offsetting decrease in total funding costs.

Net interest income for the third quarter was $695.0 million, an increase from $634.5 million a year ago. The increase in net interest income resulted primarily from growth in average earning assets.

Total noninterest income grew to $142.2 million from $134.4 million, attributable to the growth in brokerage and investment fees and foreign exchange fee income, partially offset by a decline in investment management fees attributable to the departure of wealth managers in the second quarter.

Year on year, the company's total interest expenses rose to $214.8 million from $145.6 million.

Net loan charge-offs were $4.3 million, an increase from $185,000 in the year-ago period.

Total loans at the end of the most recent quarter stood at $86.30 billion, compared with $82.24 billion at the end of the second quarter and $72.33 billion at the end of the third quarter of 2018.

Deposits at the end of the third quarter totaled $85.72 billion, compared with $83.43 billion at the end of the previous quarter and $74.76 billion at the end of the year-ago quarter.