First Republic Bank: 3Q Earnings Snapshot

AP

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SAN FRANCISCO (AP) _ First Republic Bank (FRC) on Friday reported third-quarter net income of $213.5 million.

The bank, based in San Francisco, said it had earnings of $1.19 per share.

The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.

The San Francisco bank posted revenue of $914.4 million in the period. Its revenue net of interest expense was $768.8 million, topping Street forecasts. Four analysts surveyed by Zacks expected $765.8 million.

First Republic Bank shares have risen roughly 5 percent since the beginning of the year. The stock has fallen 12 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FRC at https://www.zacks.com/ap/FRC

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