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First Republic Bank: 4Q Earnings Snapshot

·1 min read

SAN FRANCISCO (AP) _ First Republic Bank (FRC) on Thursday reported fourth-quarter net income of $295.6 million.

The San Francisco-based bank said it had earnings of $1.60 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.

The San Francisco bank posted revenue of $1.18 billion in the period. Its revenue net of interest expense was $1.08 billion, which also beat Street forecasts. Four analysts surveyed by Zacks expected $1.03 billion.

For the year, the company reported profit of $1.06 billion, or $5.81 per share. Revenue was reported as $3.92 billion.

First Republic Bank shares have increased nearly 10% since the beginning of the year. The stock has risen 40% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FRC at https://www.zacks.com/ap/FRC