SAN FRANCISCO (AP) _ First Republic Bank (FRC) on Thursday reported first-quarter net income of $176.8 million.
The bank, based in San Francisco, said it had earnings of $1.01 per share.
The results met Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was also for earnings of $1.01 per share.
The San Francisco bank posted revenue of $654 million in the period. Its adjusted revenue was $601.1 million, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $626.1 million.
First Republic Bank shares have dropped slightly since the beginning of the year. The stock has increased 40 percent in the last 12 months.