First Republic Bank Prices Common Stock Offering

First Republic Bank (“First Republic”) (NYSE: FRC), a leading private bank and wealth management company, today announced the pricing of an underwritten public offering of 1,750,000 shares of its common stock for expected gross proceeds of approximately $291.4 million before underwriting discounts and commissions and estimated offering expenses. The offering size of 1,750,000 shares of common stock represents an upsize from the previously announced offering size of 1,500,000 shares of common stock. First Republic has also granted the underwriters a 30-day option to purchase up to an additional 262,500 shares from First Republic. BofA Securities, J.P. Morgan and Morgan Stanley are serving as joint bookrunning managers.

The last reported sale price of its common stock on March 1, 2021 was $172.52 per share. The underwriters propose to offer the shares of common stock for sale from time to time in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, subject to receipt and acceptance by them and subject to their right to reject any order in whole or in part.

First Republic intends to use the net proceeds from the offering for general corporate purposes, which may include, among other things, funding loans or purchasing investment securities for its portfolio.

Closing of the offering is expected to occur on or about March 4, 2021, subject to customary closing conditions.

The offering will be made only by means of an offering circular. The offering circular relating to the offering will be available at www.frc-offering.com and furnished on a Current Report on Form 8-K that will be filed with the Federal Deposit Insurance Corporation. Copies of the offering circular may also be obtained when available from BofA Securities, NC1-004-03-43, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department, or email: [e-mail]; from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 1-866-803-9204, or by email at [e-mail]; or from Morgan Stanley - Attn: Prospectus Department - 180 Varick Street, 2nd Floor - New York, New York 10014.