Fri, Jan 14, 2022 4:18 AM
SAN FRANCISCO (AP) _ First Republic Bank (FRC) on Friday reported fourth-quarter net income of $400 million.
The San Francisco-based bank said it had earnings of $2.02 per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.91 per share.
The San Francisco bank posted revenue of $1.41 billion in the period. Its revenue net of interest expense was $1.37 billion, which also beat Street forecasts. Four analysts surveyed by Zacks expected $1.34 billion.
For the year, the company reported profit of $1.48 billion, or $7.68 per share. Revenue was reported as $5.03 billion.