Read First Republic Bank's 2020 Annual Report to learn more about the power of client service.

Proudly supporting our communities.

Our business model is premised on safety and stability, as well as client trust and satisfaction, built one relationship at a time by extraordinary colleagues. As a ‘people-first’ organization, it is our privilege to serve our clients, colleagues and communities.

”
Hafize Gaye Erkan, President and Board Member

35 Years of Community Engagement and Responsibility

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.

Collage of photos from the last 35 years
1985
1990
1993
1996
1998
2011
2014
2015
2016
2018
2020

From its founding in 1985 to today, First Republic continues to be a strong participant in fair and responsible lending and community reinvestment in historically underserved communities.

First Republic is accepted as the first voluntary member of the Federal Home Loan Bank (FHLB) in San Francisco, originating over $120 million in low-income housing loans.

First Republic is the first and largest user of FHLB Community Rebuilding Funds to reconstruct the portions of South Central Los Angeles that were hit hardest by the Los Angeles riots.

First Republic contributes to the expansion of the Network for Teaching Entrepreneurship (NFTE) into the public school system; later, in 2002, the Bank will be recognized with an award by NFTE for its entrepreneurial leadership and philanthropy.

Jim Herbert serves as a founding board member on the BASIC Fund, an organization that provides independent or parochial school scholarships to low-income Bay Area families — reaching over 25,000 underrepresented students. The nonprofit was housed in First Republic’s headquarters at 111 Pine Street for over a decade.

First Republic begins equity investments in minority-owned depository institutions (MDIs) as one of only five financial institutions that answered the call to action to keep Carver Bank in Harlem, New York, afloat after the financial crisis. From 2011 to 2019, First Republic committed a total of $439 million to MDIs, community development financial institutions (CDFIs) and community development corporations (CDCs).

First Republic is recognized for its commitment to board diversity by 2020 Women on Boards and again in 2017 by Women’s Forum of New York.

First Republic establishes the Eagle Community Home Lending Program, designed to help individuals in historically underserved communities, including predominantly African American/Black and Hispanic/Latinx communities, and low- to moderate-income individuals, become homeowners. As of December 2020, the Bank has funded $3.6 billion since the program’s inception, and over half of the applicants were minority individuals.

First Republic establishes a Community Advisory Board to help guide the Bank’s community outreach and reinvestment initiatives.

San Francisco Business Times recognizes First Republic for its long-standing gender diversity.

Jim Herbert and First Republic are honored with the Foreign Policy Association’s Corporate Social Responsibility Award. Jim Herbert is also named to the Community Development Advisory Board of the U.S. Department of the Treasury’s CDFI Fund.

Community Advisory Board

First Republic’s Community Advisory Board, comprising five recognized and highly respected community leaders, is a key part of our community engagement and outreach. The Community Advisory Board offers advice and strategic guidance on initiatives related to affordable housing, financial empowerment, and small business and economic development.

John Hope Bryant

Board Chair

Founder, Chairman and CEO of Operation HOPE
Chairman and CEO of Bryant Group Ventures and The Promise Homes Company

Mr. Bryant is an entrepreneur, author, philanthropist and thought leader on financial

...
inclusion, economic empowerment and financial dignity. He has served as an advisor to three U.S. presidents and is responsible for financial literacy becoming the policy of the U.S. federal government. He has received hundreds of awards and citations for his work, including being named one of the “50 Leaders for the Future” by Time magazine, the 2016 “Innovator of the Year” by American Banker magazine and one of “The Power 100: Most Influential Atlantans in 2020” by the Atlanta Business Chronicle. He is the author of bestsellers Up From Nothing, The Memo, How the Poor Can Save Capitalism and Love Leadership.

Our Long-Standing Relationship With Operation HOPE

Collage of pictures from Operation Hope

Creating pathways out of poverty by providing tools and resources to improve financial literacy

Founded by John Hope Bryant in 1992, Operation HOPE has provided financial coaching to more than 2 million adults, primarily in communities of color, helping them reduce debt, increase their savings and secure home mortgages.

Mr. Bryant’s relationship with First Republic Bank started at Operation HOPE’s founding and is based on a shared commitment to uplifting communities in need. Today, the Bank’s enduring financial support has helped Operation HOPE to expand the reach of their pandemic relief and assistance programs.
In turn, Mr. Bryant brings his decades of experience in community development to First Republic’s Community Advisory Board.

Faith Bautista

Board Member

President and CEO of the National Asian American Coalition
CEO of the National Diversity Coalition

Ms. Bautista advocates as a major voice for underserved markets in the halls of Congress; in the California legislature;

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in front of key federal legislators, such as the Federal Reserve, FDIC, OCC, FHFA, FTC, FCC and SEC; and among Fortune 500 corporations. She is a presidential appointee currently serving as one of the members of the Community Development Advisory Board of the U.S. Department of the Treasury’s CDFI Fund and also hosts the television show Owning a Piece of America.

Ann Houston

Board Member

Founder and CEO of Opportunity Communities

Ms. Houston is the Founder and CEO of Boston-based Opportunity Communities, an organization with a mission to improve the capacity and efficiency of local community developers. Prior

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to stepping into this role, she led The Neighborhood Developers (TND) as Executive Director. During her tenure, TND completed over $85 million of real estate development, including building the Box District, a recipient of the 2014 Urban Institute Jack Kemp Award for Excellence in Affordable and Workforce Housing. Ms. Houston serves on the board of MHIC, a New England CDFI lender and investor, and the Multifamily Advisory Board of Mass Housing, Massachusetts’ Housing Finance Agency.

Susan Ifill

Board Member

COO of NeighborWorks America

Ms. Ifill is the Executive Vice President and COO of NeighborWorks America. Prior to this appointment, she was CEO of Neighborhood Housing Services of New York City. She has served on numerous nonprofit

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boards and currently serves as the Chair of the board of trustees for Cambridge College in Boston and on the Ocwen Financial Community Advisory Board. Before entering the nonprofit world, Ms. Ifill was the Senior Vice President and Chief Retail Officer for Carver Federal Savings Bank in New York. Prior to that, she was Senior Vice President and Premier Banking Market Manager at Bank of America.

Janice Jensen

Board Member

President and CEO of Habitat for Humanity East Bay/Silicon Valley

Ms. Jensen has more than 30 years of experience in nonprofit management, primarily in the fields of healthcare and affordable housing. She serves as Chair of

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the board of directors for the Nonprofit Housing Association of Northern California. She is also a board member of Silicon Valley@Home and the Habitat for Humanity California State Support Organization. Ms. Jensen served on the Technical Committee for CASA, Committee to House the Bay Area, as well as the board of governors for the California Housing Consortium. She was Vice Chair of Habitat for Humanity International’s U.S. Council and chaired the U.S. Policy Committee. In 2017, the Silicon Valley Business Journal honored her as a “Woman of Influence.”
Drawing of colorful house

Affordable Housing

First Republic is a committed funder and strong supporter of affordable housing. We firmly believe that collaborative, regionwide partnership is key to addressing this critical issue and strengthening local communities.

”
Rosana Han, Senior Vice President, Head of Community Reinvestment

We are focused on producing and preserving affordable housing in our communities through our lending and investment activities. Through ongoing dialogue with our Community Advisory Board and local community groups, the Bank continually evaluates community needs and explores partnership opportunities to engage our low- to moderate-income and underserved communities. Furthermore, we have dedicated a team of regional Community Outreach Relationship Managers to focus specifically on outreach to historically underrepresented markets. We are proud to have received a satisfactory Community Reinvestment Act rating for 29 consecutive years.

We are proud to invest in and lend to the communities we serve.

$100
million
Amount committed in 2020 to protect and produce affordable housing through the San Francisco Housing Accelerator Fund
$9.2
billion
Origination amount for community development loans1
$2.0
billion
Amount committed to low-income housing tax credit investments2
14.1%
Percentage of single-family home loans funded by unit to low- to moderate-income borrowers3
70+
programs
Number of programs participated in to finance homeownership for low- to moderate-income first-time homebuyers4

1 Loans originated from 2011 through 2020, the most recent reportable time period.
2 Amount committed from 2010 through 2020.
3 For loans funded in 2020, the most recent data available as determined by Home Mortgage Disclosure Act (“HMDA”) data.
4 As of December 31, 2020.

Collage of photos from FRB in our communities

Furthering Diversity, Equity and Inclusion

Since 1985, our diversity has been a key to providing extraordinary service. In 2020, we expanded our commitment to diversity, equity and inclusion by partnering with Management Leadership for Tomorrow, a national nonprofit that equips and emboldens high-achieving Black, Latinx and Native American individuals to secure high-trajectory jobs, while partnering with employers to provide access to a new generation of diverse leaders.

Colleague Communities

Colleague Communities offer a place for colleagues to foster networks and build strong relationships and ties between members and allies. These networks embrace our values and further our community outreach, education and professional development efforts. In 2020, we expanded our number of Colleague Communities from three to eight.

Employee Volunteering and Giving

Since 2015, we have offered employees two paid days to volunteer with charitable organizations that make an impact on our local communities. In 2020, First Republic increased the number of our volunteers by more than 20%, with over 2,200 employees volunteering more than 21,500 hours as part of this program. In 2020, we also launched employee matching gift programs for COVID-19 support; diversity, equity and inclusion; and disaster relief efforts. More than 1,300 employees participated, making meaningful donations to 30 nonprofits.

Caring for Our Environment

We serve more than 100 environmentally focused nonprofit organizations and offer banking and wealth management solutions for environmentally conscious clients. We have also taken action to manage our own impact on the environment. In 2020, we engaged Corporate Citizenship, a global strategy consulting practice specializing in sustainable and responsible business, to further identify and focus our environmental impact initiatives.

We continue to develop meaningful partnerships with a diverse group of nonprofits supporting the communities in which we live and work.

The Posse Foundation
Multiple locations

Based on the idea that a small group of talented individuals can inspire each other to excellence, The Posse Foundation has provided inspiration to over 10,000 high school students since 1989.

Read more

University Settlement Society
New York, New York

The original settlement house in the United States, University Settlement provides social services to low-income and immigrant families in order to fight poverty and systemic inequality.

Read more

The Marine Mammal Center
Sausalito, California

As the largest marine mammal hospital in the world, The Marine Mammal Center is a global leader in marine mammal health, science and conservation.

Read more

Serving Nonprofits: Beyond Banking

We are continually looking for ways to best serve nonprofits across our communities. We extend the following educational and networking opportunities to our nonprofit neighbors:

Nonprofit Insights

Quarterly newsletter featuring articles tailored to nonprofit professionals

Financial Education

Financial literacy training for employees offered as digital modules covering financial basics, financing education costs, homebuying and saving for the future

Fundraisers Alliance

Educational group for nonprofit professionals to deepen fundraising skills, share best practices, and learn from peers and best-in-class service providers

Leadership Convening

Nonprofit events and workshops on topics that matter most to nonprofit leaders, board members and donors

Financial Executives Alliance

First Republic–administered complimentary networking group that brings together senior nonprofit financial professionals to discuss challenges and best practices

COVID-19 Support

Webinars and sector insights on a range of topics related to the pandemic, including employment law, cybersecurity, virtual fundraising and strategic financial planning

25%

Percentage of loans to nonprofit organizations in our Business Banking loan portfolio
(as of December 31, 2020, excluding PPP loans)