First Republic Bank Releases Results of 2018 Dodd-Frank Act Company-Run Capital Stress Test
22 June 2018 - 7:10AM
Business Wire
First Republic Bank (“First Republic”) (NYSE:FRC), a leading
private bank and wealth management company, today announced the
release of the results of its 2018 annual company-run capital
stress test (“Dodd-Frank Act Stress Test” or “DFAST”). The
information contained within the capital stress test results does
not, in any way, reflect changes to the business plans, practices,
or strategy of First Republic. The projections in the results are
based on the severely adverse scenario provided by the Federal
Deposit Insurance Corporation, in coordination with the Board of
Governors of the Federal Reserve System and the Office of the
Comptroller of the Currency, which was released on February 6,
2018. Accordingly, the projections in the results represent
hypothetical estimates that are based on economic conditions more
adverse than expected, and are not First Republic’s actual
projections of expected pre-provision net revenue, losses, net
income before taxes or capital ratios. Results can be found in the
Investor Relations section of First Republic’s website at
firstrepublic.com under “Regulatory Disclosures.”
About First Republic
Bank
Founded in 1985, First Republic and its subsidiaries offer
private banking, private business banking and private wealth
management, including investment, trust and brokerage services.
First Republic specializes in delivering exceptional,
relationship-based service, with a solid commitment to
responsiveness and action. Services are offered through preferred
banking or wealth management offices primarily in San Francisco,
Palo Alto, Los Angeles, Santa Barbara, Newport Beach and San Diego,
California; Portland, Oregon; Boston, Massachusetts; Palm Beach,
Florida; Greenwich, Connecticut; New York, New York; and later in
2018, Jackson, Wyoming. First Republic offers a complete line of
banking products for individuals and businesses, including deposit
services, as well as residential, commercial and personal loans.
For more information, visit firstrepublic.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180621006349/en/
Investors:Addo CommunicationsAndrew Greenebaum,
310-829-5400agreenebaum@addoir.comLasse Glassen,
310-829-5400lglassen@addoir.comorMedia:Blue Marlin
PartnersGreg Berardi, 415-239-7826greg@bluemarlinpartners.com
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