Golden Eagle symbol part of the First Republic Logo

Welcome to the 2020 Annual Report

35 Years of Extraordinary Service

Dear Clients
And Shareholders

In 1985, we founded First Republic Bank on the assumption that a truly distinct dedication to exceptional client service would result in a very successful banking business. This has proven to be true — even through the tremendous challenges of 2020.

We have been guided entirely by the principle that if we take great care of our colleagues, our clients and our communities, we will have a sustainable business that delivers consistent value to all of our stakeholders. First Republic’s uniquely strong growth and increase in shareholder value of over 25% per annum for more than 35 years are the outcome of this focused, long-term approach.

OUR Clients

Dr. David Ho is one of the world’s top virologists. He received the Presidential Citizens Medal in 2001 and was named Time magazine’s 1996 Person of the Year for his groundbreaking work in treating HIV.

Financial Summary

Financial Highlights

2015–2020

Dollars in billions

DECEMBER 31, 2015 2016 2017 2018 2019 2020
Total Bank Assets $ 59.0 $ 73.3 $ 87.8 $ 99.2 $ 116.3 $ 142.5
Total Loans $ 44.1 $ 52.0 $ 62.8 $ 75.9 $ 90.8 $ 112.6
Total Deposits $ 47.9 $ 58.6 $ 68.9 $ 79.1 $ 90.1 $ 114.9
Total Tier 1 Capital $ 5.5 $ 6.6 $ 7.5 $ 8.3 $ 9.5 $ 11.4
Wealth Management Assets $ 72.3 $ 83.6 $ 107.0 $ 126.2 $ 151.0 $ 194.5
Net Income (in millions) $ 522 $ 673 $ 758 $ 854 $ 930 $ 1,064
Preferred Banking Offices 68 69 70 75 78 80

Supporting
Our Communities

At First Republic, doing the right thing has always been at the heart of everything we do — from giving back to our communities, with a particular emphasis on underserved neighborhoods, to building a diverse and inclusive organization.