First Republic Bank

San Francisco, CA · Cert 59017

FDIC · 87 branches

Q1 2023

$232.9BAssets

$173.3BLoans

$104.5BDeposits

$18.0BEquity

Deposit mix

NIM

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

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%.

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.

Metric	Q1 2022	Q2 2022	Q3 2022	Q4 2022	Q1 2023	YoY Δ	Trend
Earnings
Return on Assets	0.87%	0.88%	0.88%	0.85%	0.48%	-39 bps
Return on Equity	10.02%	10.32%	10.40%	10.03%	6.08%	-394 bps
Net Interest Margin	2.50%	2.51%	2.45%	2.36%	1.63%	-87 bps
Efficiency Ratio	61.61%	60.81%	60.53%	61.29%	68.12%	+651 bps
Non-Interest Burden	1.34%	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 / Loans	0.10%	0.09%	0.08%	0.07%	0.08%	-2 bps
Net Charge-Offs / Loans	0.00%	0.00%	0.00%	0.00%	0.00%	0 bps
Allowance / Loans	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Allowance Coverage of NPLs	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Capital
Tier 1 Leverage Ratio	8.70%	8.59%	8.59%	8.51%	8.25%	-46 bps
Total Risk-Based Capital	13.37%	12.82%	12.81%	12.60%	12.71%	-67 bps
Equity / Assets	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Liquidity & Funding
Loans / Deposits	87.20%	91.47%	92.10%	94.58%	165.89%	+7,869 bps
Liquid Assets / Assets	0.00%	0.00%	0.00%	0.00%	0.00%	0 bps
CRE / Total Capital	n/a	n/a	n/a	n/a	n/a	n/a	n/a