FRC - First Republic Bank stock jumps after Q2 earnings beat on robust loan growth

First Republic Bank ( NYSE: FRC ) shares are perking up nearly 5% in Thursday premarket trading after the regional lender's Q2 earnings topped Wall Street expectations, driven by strong loan growth and net interest margin.

Adjusted EPS of $2.16 exceeded the average analyst estimate of $2.08 and gained from $1.95 in Q2 2021. Revenue of $1.55B also beat the consensus of $1.48B and climbed 22.6% from a year ago.

Net interest income was $1.2B in the second quarter, up from $1.1B in Q1 and $1.0B in Q2 of last year.

On the asset side of its balance sheet, loans totaled $151.5B in Q2 compared with $141.3B in Q1 and $123.1B in the year-ago period.

Deposits, meanwhile, mounted to $165.6B in Q2 vs. $162.1B in Q1 and $134.7B in Q2 2021.

Tangible book value was $69.81 per share in Q2, up from $68.47 in Q1 and $61.72 in Q2 2021.

Return on average common shareholders' equity of 12.43% in Q2 vs. 11.91% in Q1 and 12.77% in Q2 a year ago.

Conference call at 7:00 a.m. PT (10 a.m. ET).

Earlier, First Republic Bank declared a quarterly dividend of $0.27 per share .

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