FRC - Why First Republic Bank's Growth Story Looks Set to Continue
The past 12 months have been a banner time for regional banks and their shareholders. The SPDR S&P 500 Regional Banking ETF has roughly doubled -- more than doubling the comparable return of the S&P 500 index. First Republic Bank (NYSE: FRC) is one of the largest holdings in that ETF, and its share price has performed roughly in line with it, but the real story with this institution is how its operations have grown over the last decade.
First Republic has a lending portfolio across housing, commercial real estate, and business -- but it also boasts a significant wealth-management division with over $218 billion in client assets. These segments have grown markedly since 2010, in some cases by over 10 times, and its recently delivered first-quarter earnings results suggest the company has no intention of slowing down.
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Why First Republic Bank's Growth Story Looks Set to Continue