First Republic Bank hikes dividend by 22.7%

First Republic Bank (FRC) will raise its quarterly dividend by 22.7 percent to 27 cents per share in 2022. This marks the 10 th consecutive year of annual dividend increases by the commercial bank and trust company. The new annual dividend of $1.08 per share yields 0.7% at a stock price of $154 for FRC.

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 and offers a complete line of products, including residential, commercial and personal loans, deposit services, and wealth management. Services are offered through preferred banking or wealth management offices primarily in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach and San Diego, California; Portland, Oregon; Boston, Massachusetts; Palm Beach, Florida; Greenwich, Connecticut; New York, New York; and Jackson, Wyoming. First Republic Bank was founded in 1985 and became a public company in 2010 with dividends paid since 2012.