First Republic Bank Announces Pricing of $200 Million Series H Preferred Stock Offering

SAN FRANCISCO–(BUSINESS WIRE)–First Republic Bank (“First Republic”) (NYSE:FRC), a leading private
bank and wealth management company, today announced the pricing of a
public offering of 8,000,000 depositary shares, each representing a
1/40th interest in a share of its 5.125% Noncumulative Perpetual Series
H Preferred Stock, at a public offering price of $25.00 per depositary
share. The offering is expected to close on or about June 7, 2017,
subject to the satisfaction of customary closing conditions.

First Republic intends to use the net proceeds from the offering to fund
the redemption of all the outstanding shares of its Series B Preferred
Stock, which First Republic previously announced will be redeemed on
June 16, 2017. The redemption of the Series B Preferred Stock is not
contingent upon the completion of the offering. First Republic intends
to use any additional net proceeds from the offering for general
corporate purposes, which may include, among other things, funding loans
or purchasing investment securities for its portfolio.

Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co.
LLC, UBS Securities LLC and Wells Fargo Securities, LLC are serving as
joint book-running managers. Keefe, Bruyette & Woods, A Stifel
Company
, is serving as co-manager.

The offering will be made only by means of an offering circular. The
offering circular relating to the offering is available at www.frc-offering.com.
Copies of the offering circular may also be obtained from: Merrill
Lynch, Pierce, Fenner & Smith Incorporated, NC1-004-03-43, 200 North
College Street, 3rd floor, Charlotte, NC 28255-0001, Attention:
Prospectus Department, or email: dg.prospectus_requests@baml.com;
Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick
Street, New York, New York 10014, or by email at prospectus@morganstanley.com;
UBS Securities LLC, Attention: Prospectus Department, 1285 Avenue of the
Americas, New York, NY, 10019 or by calling 1-888-827-7275; and Wells
Fargo Securities, LLC, 608 2nd Avenue
South, Minneapolis, MN 55402, Attention: WFS Customer Service, email: wfscustomerservice@wellsfargo.com
or by calling toll-free at 1-800-645-3751.

This press release is for informational purposes only and shall not
constitute an offer to sell or a solicitation of an offer to buy the
securities, nor shall there be any sale of the securities in any state
or jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of any such state or jurisdiction. The securities are neither
insured nor approved by the Federal Deposit Insurance Corporation.

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 and New York, New York. First Republic
offers a complete line of banking products for individuals and
businesses, including deposit services, as well as residential,
commercial and personal loans.

Forward-Looking Statements

This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Statements about First Republic’s expectations, beliefs, plans,
predictions, forecasts, objectives, assumptions or future events or
performance are not historical facts and may be forward-looking. These
statements are often, but not always, made through the use of words or
phrases such as “anticipates,” “believes,” “can,” “could,” “may,”
“predicts,” “potential,” “should,” “will,” “estimates,” “plans,”
“projects,” “continuing,” “ongoing,” “expects,” “intends” and similar
words or phrases. Accordingly, these statements are only predictions and
involve estimates, known and unknown risks, assumptions and
uncertainties that could cause actual results to differ materially from
those expressed in them. All forward-looking statements are necessarily
only estimates of future results, and there can be no assurance that
actual results will not differ materially from expectations, and,
therefore, you are cautioned not to place undue reliance on such
statements. Any forward-looking statements are qualified in their
entirety by reference to the factors discussed in the section titled
“Risk Factors” in First Republic’s offering circular relating to this
offering, including the documents incorporated by reference therein, and
other risks described in documents subsequently filed by First Republic
from time to time under the Securities Exchange Act of 1934, as amended.
Further, any forward-looking statement speaks only as of the date on
which it is made, and First Republic undertakes no obligation to update
any forward-looking statement to reflect events or circumstances after
the date on which the statement is made or to reflect the occurrence of
unanticipated events.

Contacts

Investors:
Addo Communications
Andrew Greenebaum or
Lasse Glassen, 310-829-5400
andrewg@addoir.com
lasseg@addoir.com
or
Media:
Blue
Marlin Partners
Greg Berardi, 415-239-7826
greg@bluemarlinpartners.com