First Republic Bank’s fourth-quarter net income rose 19% as net interest income and noninterest income increased.
The bank reported a profit of $231.4 million, or $1.29 a share, up from $194.3 million, or $1.10 a share, in the prior-year period. Analysts polled by Refinitiv were expecting earnings of $1.23 a share.
Total revenue was $810.8 million. Analysts expected revenue of $791.2 million. Net interest income rose 17% to $667.2 million. Noninterest income rose 10% $143.5 million.
Write to Allison Prang at email@example.com
Source: Read Full Article