FRC - First Republic Bank prices $750M preferred stock offering

First Republic Bank (FRC) has priced its public offering of 30M depositary shares, each representing a 1/40th interest in a share of its 4.000% Noncumulative Perpetual Series M Preferred Stock, at $25.00/depositary share. Net proceeds will be used for general corporate purposes, which may include, funding loans or purchasing investment securities for portfolio.Closing date is July 21.

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First Republic Bank prices $750M preferred stock offering