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First Republic Bank net income rises YOY in Q4

San Francisco-based First Republic Bank reported 2019 fourth-quarter net income available to common shareholders of $235.6 million, or $1.39 per share, up from $215.2 million, or $1.29 per share, in the year-ago period.

The S&P Global Market Intelligence consensus GAAP EPS estimate for the quarter was $1.28.

On a fully taxable-equivalent basis, net interest margin for the most recent quarter was 2.73%, down from 2.80% in the previous quarter and from 2.98% in the year-ago period.

Net interest income for the fourth quarter was $720.1 million, an increase from $667.2 million a year ago.

Total noninterest income grew to $157.3 million from $143.5 million a year ago.

Year on year, the company's total interest expenses rose to $216.8 million from $161.5 million.

Total loans at the end of the most recent quarter stood at $90.80 billion, compared with $86.30 billion at the end of the third quarter and $75.87 billion at the end of the 2018 fourth quarter.

Deposits at the end of the 2019 fourth quarter totaled $90.13 billion, compared with $85.72 billion at the end of the previous quarter and $79.06 billion at the end of the year-ago quarter.