First Republic Bank: Q1 Earnings Snapshot
SAN FRANCISCO (AP) _ First Republic Bank (FRC) on Wednesday reported first-quarter earnings of $334.8 million.
The San Francisco-based bank said it had earnings of $1.79 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.54 per share.
The San Francisco bank posted revenue of $1.22 billion in the period. Its revenue net of interest expense was $1.13 billion, which also topped Street forecasts. Four analysts surveyed by Zacks expected $1.08 billion.
First Republic Bank shares have increased 16% since the beginning of the year. The stock has increased 82% in the last 12 months.