First Republic Bank Issues Notice of Redemption of Series E Preferred Shares
First Republic Bank (“First Republic”) (NYSE: FRC), a leading private bank and wealth management company, today announced it is
calling for redemption of all of the outstanding depositary shares (the “Series E Depositary Shares”) relating to its 7.00%
Noncumulative Perpetual Series E Preferred Stock (the “Series E Preferred Stock”). There are currently 8,000,000 issued and
outstanding Series E Depositary Shares, each representing a 1/40th interest in a share of Series E Preferred Stock (NYSE: FRC-PRE,
CUSIP No. 33616C860).
The Series E Depositary Shares will be redeemed on December 28, 2018 (the “Redemption Date”) at a redemption price of $25.00 per
Series E Depositary Share, representing an aggregate amount of $200,000,000, plus all accrued and unpaid dividends from, and
including, September 30, 2018 to, but excluding, the Redemption Date (the “Redemption Price”). The Redemption Price will not accrue
interest from and following the Redemption Date. On and after the Redemption Date, the Series E Depositary Shares will no longer be
deemed outstanding and no further dividends will be declared on the Series E Depositary Shares.
The notice of redemption specifying the terms, conditions and procedures for the redemption (the “Redemption Notice”) will be
mailed to holders of record of Series E Depositary Shares, and is available by contacting Computershare Inc. or Computershare Trust
Company, N.A. (“Computershare”), the transfer agent for the Series E Depositary Shares, by mail at 250 Royall Street Canton, MA
02021 Attention: Corporate Actions, 1-855-396-2084 (1-781-575-2765 outside the United States and Canada). Questions regarding the
redemption of the Series E Depositary Shares may be directed to Computershare.
This press release does not constitute a notice of redemption under the certificate of designation governing the Series E
Depositary Shares and is qualified in its entirety by reference to the Redemption Notice issued by First Republic.
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.
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 First Republic’s Annual Report on Form 10-K for the year ended December 31, 2017 and in our
other filings 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.
Investors:
Addo Communications
Andrew Greenebaum / Lasse Glassen, 310-829-5400
agreenebaum@addoir.com
lglassen@addoir.com
or
Media:
Blue Marlin Partners
Greg Berardi, 415-239-7826
greg@bluemarlinpartners.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20181030005111/en/