First Republic Bank this week announced plans to raise $100 million in a stock offering to fund its growth.

The San Francisco-headquartered bank announced a public offering of 4 million depositary shares, each representing a 1/40th interest in a share of its 5.70 percent Noncumulative Perpetual Series F Preferred Stock, at a public offering price of $25 per share.

The bank, which has offices in Boston, said it plans to use those proceeds for general corporate purposes, which could include funding loans or purchasing investment securities for its portfolio.

The offering is expected to close on May 27.

First Republic Bank To Raise $100M In Stock Offering

by Banker & Tradesman time to read: <1 min
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