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First Republic Bank: 4Q Earnings Snapshot

January 15, 2019

SAN FRANCISCO (AP) _ First Republic Bank (FRC) on Tuesday reported fourth-quarter profit of $231.4 million.

The bank, based in San Francisco, said it had earnings of $1.29 per share.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.

The San Francisco bank posted revenue of $972.2 million in the period. Its revenue net of interest expense was $810.8 million, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $790.3 million.

For the year, the company reported profit of $853.8 million, or $4.81 per share. Revenue was reported as $3.04 billion.

First Republic Bank shares have dropped almost 3 percent since the beginning of the year. The stock has decreased slightly more than 7 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FRC at https://www.zacks.com/ap/FRC

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