First Republic Bank Q4 Net Income Declines; Revenues Up 5.2%

(RTTNews) - First Republic Bank (FRC) reported that its fourth quarter net income was $386 million, down 3.6% from a year ago. Earnings per share was $1.88, down 6.9%. Analysts on average had expected the company to earn $1.80 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Revenues were $1.4 billion, up 5.2% from last year. Net interest income was $1.2 billion, up 4.9%. Analysts on average had estimated $1.44 billion in revenue.

The Bank declared a cash dividend for the fourth quarter of $0.27 per share of common stock, which is payable on February 9, 2023 to shareholders of record as of January 26, 2023.

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