Fees from advising wealthy households propelled First Republic Bank (FRC) in the first quarter.

Earnings at the $35.1 billion-asset bank rose 28% from a year earlier, to $114.5 million. Net interest income rose 5.8% from a year earlier, to $298 million. Net interest margin compressed 22 basis points compared to the first quarter of 2012, to 3.42%.

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