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FRC - First Republic Bank: Strong Long Growth Appears To Be Priced In
FIRST REPUBLIC BANK
First Republic Bank (FRC) reported earnings of $1.40 per share in the second quarter, up 18% from the first quarter of 2020. The earnings increase was attributable to strong loan growth and a drop in provision expense. Earnings in the second half of the year will likely increase on a year-over-year basis due to a strong loan pipeline and low interest rates, which will ensure that loans continue to grow in the year ahead. On the other hand, provision expense will likely be higher than last year due to loan growth and credit