First Republic Bank in San Francisco plans to raise about $178 million through a common stock offering.
The $58 billion-asset bank said in a press release late Tuesday that it plans to sell 2.5 million shares at $72.41 each. The offering is expected to close on June 6.
First Republic said it expects to use net proceeds for general corporate purposes that include funding loans or buying investment securities for its portfolio.
- California
Higher wealth management fees and improved interest income led First Republic Bank in San Francisco to double-digit profit growth in the fourth quarter.
January 14 -
First Internet Bancorp in Indianapolis plans a secondary offering of about $20 million of common stock.
May 24 - California
First Republic Bank in San Francisco has appointed Katherine August-deWilde to the newly created position of vice chair.
January 6
The offering's underwriters have a 30-day option to buy up to 375,000 additional shares.
