Moody's places First Republic Bank's ratings under review for downgrade
Moody's Investors Service (Moody's) has today placed all long-term ratings and assessments of First Republic Bank (First Republic) on review for downgrade. First Republic's long-term issuer ratings and local currency subordinate ratings of Baa1, and preferred stock non-cumulative rating of Baa3 (hyb...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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