SAN FRANCISCO, June 23, 2016 /PRNewswire/ -- First Republic Bank ("First Republic") (NYSE: FRC), a leading private bank and wealth management company, today announced the release of the results of its 2016 annual company-run capital stress test ("Dodd-Frank Act Stress Test" or "DFAST"). The information contained within the capital stress test results does not, in any way, reflect changes to the business plans, practices, or strategy of First Republic. The projections in the results are based on the severely adverse scenario provided by the Federal Deposit Insurance Corporation, in coordination with the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency, which was released on February 9, 2016. Accordingly, the projections in the results represent hypothetical estimates that involve an economic outcome more adverse than expected, and are not First Republic's actual projections of expected pre-provision net revenue, losses, net income before taxes or capital ratios. Results can be found in the Investor Relations section of First Republic's website at www.firstrepublic.com under "Regulatory Disclosures."
About First Republic Bank
Founded in 1985, First Republic and its subsidiaries offer private banking, private business banking and private wealth management, including investment, trust and brokerage services. First Republic specializes in delivering exceptional, relationship-based service, with a solid commitment to responsiveness and action. Services are offered through preferred banking or wealth management offices primarily in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach, San Diego, Portland, Boston, Palm Beach, Greenwich and New York City. First Republic offers a complete line of banking products for individuals and businesses, including deposit services, as well as residential, commercial and personal loans. For more information, visit www.firstrepublic.com.
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SOURCE First Republic Bank