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First Republic Bank to Sell New Preferred

Private banker First Republic Bank (FRC) will be selling a new non-cumulative preferred stock issue.

At the same time the company announced the new offering, they announced they would be calling for redemption their series F issue (FRC-F) 5.70% issue which became redeemable on 6/30/2020.

The issue will be investment grade so I am looking for a coupon in the 4.25 to 4.50% area.

FRC has a number of other issues outstanding which can be seen here.

FRC is regulated by the FDIC and thus they do not file with the SEC, but you can see data on their website on this new issue.

Thanks to mcg for catching this issue.

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