First Republic Bank completed the public offering of 12 million depositary shares, each representing a 0.025 interest in a share of its 5.50% noncumulative perpetual series I preferred stock.

The shares were sold at a public offering price of $25.00 per depositary share.

In connection with the offering, the bank entered into a deposit agreement June 12 with Computershare Inc., Computershare’s wholly owned subsidiary Computershare Trust Co. NA and the holders from time to time of the depositary receipts.