First Republic Bank (FRCB)

First Republic Bank Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period Ending	Mar 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Interest Income on Loans	5,366	4,803	3,725	3,245	2,986	2,442
Interest Income on Investments	1,064	919	660	608	593	589.14
Total Interest Income	6,430	5,722	4,385	3,853	3,579	3,032
Interest Paid on Deposits	1,189	654	95	276	500	290.04
Interest Paid on Borrowings	629	234	176	315	315	240.46
Total Interest Expense	1,818	888	271	591	815	530.5
Net Interest Income	4,612	4,834	4,114	3,262	2,764	2,501
Net Interest Income Growth (YoY)	6.76%	17.50%	26.12%	18.02%	10.51%	16.25%
Trust Income	635	640	579	414	376	356.17
Gain (Loss) on Sale of Investments	-	-	-	-	-3	5.2
Other Non-Interest Income	401	363	314	217	178	151.48
Total Non-Interest Income	1,066	1,031	920	655	577	543.45
Non-Interest Income Growth (YoY)	9.33%	12.07%	40.46%	13.52%	6.17%	18.02%
Revenues Before Loan Losses	5,678	5,865	5,034	3,917	3,341	3,045
Provision for Loan Losses	113	107	59	157	62	76.09
Revenue	5,565	5,758	4,975	3,760	3,279	2,968
Revenue Growth (YoY)	6.79%	15.74%	32.31%	14.67%	10.46%	16.33%
Salaries and Employee Benefits	1,929	2,036	1,763	1,346	1,141	1,016
Federal Deposit Insurance	97	66	52	44	39	58.12
Selling, General & Administrative	1,158	1,131	1,021	778	704	607.67
Other Non-Interest Expense	394	384	279	231	262	234.84
Total Non-Interest Expense	3,578	3,617	3,115	2,399	2,146	1,917
EBT Excluding Unusual Items	1,987	2,141	1,860	1,361	1,133	1,052
Other Unusual Items	-	-	-32	-27	-	-
Pretax Income	1,962	2,141	1,828	1,334	1,133	1,052
Income Tax Expense	429	476	350	270	203	197.91
Earnings From Continuing Operations	1,533	1,665	1,478	1,064	930	853.83
Net Income	1,533	1,665	1,478	1,064	930	853.83
Preferred Dividends & Other Adjustments	161	158	99	59	49	57.73
Net Income to Common	1,372	1,507	1,379	1,005	881	796.1
Net Income Growth	-0.71%	12.65%	38.91%	14.41%	8.92%	12.69%
Basic Shares Outstanding	182	181	177	172	168	163
Diluted Shares Outstanding	184	183	180	173	170	166
Shares Change (YoY)	1.52%	1.67%	4.05%	1.76%	2.65%	2.02%
EPS (Basic)	7.53	8.33	7.79	5.84	5.24	4.89
EPS (Diluted)	7.47	8.25	7.68	5.81	5.20	4.81
EPS Growth	-5.29%	7.42%	32.19%	11.73%	8.11%	11.60%
Dividend Per Share	0.810	1.080	0.880	0.800	0.760	0.720
Dividend Growth	-12.90%	22.73%	10.00%	5.26%	5.56%	5.88%
Effective Tax Rate	21.87%	22.23%	19.15%	20.24%	17.92%	18.82%

Source: S&P Capital IQ. Banks template. Financial Sources.