First Republic Bank: 2Q Earnings Snapshot
SAN FRANCISCO (AP) _ First Republic Bank (FRC) on Friday reported second-quarter net income of $209.8 million.
The San Francisco-based bank said it had earnings of $1.20 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.
The San Francisco bank posted revenue of $866.9 million in the period. Its revenue net of interest income was $744.1 million, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $734 million.
First Republic Bank shares have increased 14 percent since the beginning of the year. The stock has decreased roughly 4 percent in the last 12 months.
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