- First Republic Bank press release ( NYSE: FRC ): Q2 GAAP EPS of $2.16 beats by $0.07 .
- Revenue of $1.55B (+22.0% Y/Y) beats by $70M .
- Tangible Book Value Per Share Increased 13% Year-Over-Year
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Loan originations totaled $22.0 billion, our best quarter ever.
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Net interest margin was 2.80%, compared to 2.68% for the prior quarter.
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Efficiency ratio was 60.5%, compared to 62.0% for the prior quarter.
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During the second quarter, the Bank recorded a provision for credit losses of $31 million, which was primarily driven by loan growth.
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First Republic Bank GAAP EPS of $2.16 beats by $0.07, revenue of $1.55B beats by $70M