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First Republic Bank

San Francisco, CA · Cert 59017

FDIC · 87 branches

Q1 2023

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, not published for this institution and quartern/a

Basis

Quarter: Q1 2023, the quarter ended March 31, 2023, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

No peer standings are published for this institution and quarter.

Peer groups below the disclosure floor are suppressed.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

First Republic Bank

San Francisco, CA · Cert 59017

FDIC · 87 branches

Q1 2023

$232.9BAssets
$173.3BLoans
$104.5BDeposits
$18.0BEquity
Deposit mix
81%Interest-bearing $84.2B19%Noninterest $20.3BQ1 2022Q1 2023

NIM

2.69%Q1 ’212.59%Q1 ’223.48%Q1 ’23+1%-35%

Non-interest income vs. expense

1.87%Q1 ’211.86%Q1 ’221.54%Q1 ’23-4%-27%

Market Position · San Francisco-Oakland-Berkeley, CA · 2022 SOD (annual) · 12.6% share · #3 of 67 inst. · $72.1B of $572.3B

15.0% San Francisco
1.9% New York
5.2% Suffolk
20.4% San Mateo

Executive Summary

  • Earnings: ROA of 0.48%, down 39 bps year over year; NIM at 1.63%.
  • Asset quality: problem loans at 0.08% of loans (-2 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 8.25%, down 46 bps from a year ago.
  • Funding: loans stand at 165.89% of deposits as of Q1 2023.

Financial Results

Return on Assets (YTD, annualized)

0.48%-39 bps YoY

Net Interest Margin (YTD, annualized)

1.63%-87 bps YoY

Efficiency Ratio (YTD, annualized)

68.12%+651 bps YoY

Tier 1 Leverage Ratio

8.25%-46 bps YoY

Year to date, annualized, through each quarter.

MetricQ1 2022Q2 2022Q3 2022Q4 2022Q1 2023YoY ΔTrend
Earnings
Return on Assets0.87%0.88%0.88%0.85%0.48%-39 bps
Return on Equity10.02%10.32%10.40%10.03%6.08%-394 bps
Net Interest Margin2.50%2.51%2.45%2.36%1.63%-87 bps
Efficiency Ratio61.61%60.81%60.53%61.29%68.12%+651 bps
Non-Interest Burden1.34%1.33%1.29%1.26%0.98%-36 bps
Growth
Asset Growth (YoY)20.10%22.43%18.86%17.42%24.49%+438 bps
Loan Growth (YoY)19.67%23.07%23.67%23.64%22.64%+297 bps
Deposit Growth (YoY)26.70%23.01%18.62%12.87%-35.53%-6,223 bps
Asset Quality
Nonperforming Loans / Loans0.10%0.09%0.08%0.07%0.08%-2 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loansn/an/an/an/an/an/an/a
Allowance Coverage of NPLsn/an/an/an/an/an/an/a
Capital
Tier 1 Leverage Ratio8.70%8.59%8.59%8.51%8.25%-46 bps
Total Risk-Based Capital13.37%12.82%12.81%12.60%12.71%-67 bps
Equity / Assetsn/an/an/an/an/an/an/a
Liquidity & Funding
Loans / Deposits87.20%91.47%92.10%94.58%165.89%+7,869 bps
Liquid Assets / Assets0.00%0.00%0.00%0.00%0.00%0 bps
CRE / Total Capitaln/an/an/an/an/an/an/a