First Republic Bank: Semiannual Update
FINANCIAL INSTITUTIONS CREDIT OPINION 1 June 2017 Update Contacts Rita Sahu 212-553-1648 VP-Sr Credit Officer [email protected] Sean Jones 212-553-0845 Associate Managing Director [email protected] First Republic Bank Semiannual Update Summary Rating Rationale Moody’s assigns a standalone baseline credit assessment (BCA) of a3 to First Republic Bank. The bank’s deposit ratings are A1/Prime-First Republic Bank is a commercial bank and trust company. The company conducts its business through two reportable business segments: Commercial Banking and Wealth Management. The principal business activities of the Commercial Banking segment are accepting funds from the general public, originating loans (primarily real estate secured mortgage loans) and investing in investment securities. Wealth Management segment consists of subsidiary First Republic Investment Management, Inc.; the company's money market mutual fund activities through third-party providers and the brokerage activities of First Republic Securities Company, LLC; the Trust Company; and the company's foreign exchange activities.
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