First Republic Bank

Overview / Commentary
101 Pine Street
San Francisco, CA 94111

First Republic Bank is headquartered in San Francisco and is the 2nd largest bank in the state of California. It is also the 19th largest bank in the nation. It was established in 2010 and as of June of 2022, it had grown to 6,902 employees at 88 locations. First Republic Bank's money market rates are 3X the national average, and it has an A health rating.

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Reviews (7)

Outstanding Bank For World Travelers

Posted by: |

First Republic has been my primary bank for over 5 years as I've travelled the world full time, depending upon the ATM Rebate checking account and Visa debit card for all of my daily financial needs. Drawing money from dozens of various banks and ATM machines across 9 countries, I've only had the card seriously fail me twice (verses just being rejected due to unknown reasons). The first time was my fault for neglecting a travel notice, and FRB remedied the problem immediately upon my phone call. The second time was an apparent chip failure, and FRB responded promptly by sending me a new card in Mexico within 6 days - eating the $50+ FedEx fee themselves.

Except for a one time website change that forced a new unwanted password upon the customers, I've had very few problems accessing the website from overseas (with no VPN required), no mistakes in transactions, and easy access to all documents. Even for this senior citizen, online banking has been smooth and easy.

Travel notices have been easy to do online (up to 60 days at a time by oneself), and my Visa card rejections have been zero except for one ATM incident. Even then, the card worked for 2 transactions before snagging me for being in the wrong country.

FBR's only flaw for me has been payment of little to no interest like the other major banks (versus some that will pay .5-1% more, regardless of Fed fund rates). This discourages any large deposits. However, it is one of the few banks or credit unions in the country accommodating serious travelers, thanks to it's 0 intl transaction fees, 0 FX currency exchange fees, and world wide, unlimited ATM fee reimbursements. I try not to test the bank's tolerance level since a bank can close any account for no reason, but so far FBR has reimbursed me all ATM fees faithfully with no hassles - sometimes up to $30-40 a month. These travel friendly features have compensated for low interest rates.

Finally, there's no comparison in customer service between FBR and a typical bank. I return to my local branch every other year for a casual meet with my personal banker, enjoying fresh chocolate chip chip cookies, a drink, no lines, and no big wall of windows. I get to have an unhurried sit down at a desk and be treated like a VIP. The online phone help, which I've used dozens of times from overseas, has been equally friendly, helpful, and excellent.

There are several regional and small banks to be found that provide better service and lower fees than the majors. FBR fits in this category, but for any serious world traveler, I'd suggest that FBR is the best. I highly recommend it to friends and others.

Best Bank Ever

Posted by: |

Truly the best bank I have ever been a part of. I have been a part of three other banks. Before that, I won't name names. I currently have two accounts, one at First Republic, and another at a large national bank. I love that I can call First Republic, and they know who I am, just by my voice. I have had some minor problems like not being refunded for ATM fees. Instead of causing a large fuss, they opened a case for me, went back a month and researched why my ATM fee was not given to me. All this work for $3. They do whatever it takes to make a problem right. (and free warm cookies are a plus)

Not Your Mega-Bank

Posted by: |

We've had various accounts with First Republic, off and on, for quite a few years (I was actually one of their first customers when they opened on Pine Street in San Francisco). Our most recent experience is our re-fi. Can't find any aspect of the transaction thus far below five stars. The "bank" itself feels more like a club room. No teller windows, just bankers at desks (no waiting in line, just have a seat). The only reason I notched it down from five stars to four would be their CD rates. Used to be stellar, now sub-par. Bottom line: if you live in an area serviced by First Republic (we're in Northern California), check them out.

Old-fashioned banking. Your "personal banker" will actually give you his or her card, with e-mail address, direct dial and cell numbers, and (more importantly) answer his or her phone when you call, or (at minimum) call you right back. End of voice-mail hell.

Mediocre Bank

Posted by: |

This is an average bank for mortgage, CD, checking and saving accounts. My husband and I have a joint account in San Francisco. The staff are kind, courteous, and have poor attention to details. First, they got my social security number wrong at the beginning. Second, they failed to update my address and phone number for years although I gave my updated information online, on the phone, and in person for over 10 times. They only updated my husband's info. In joint accounts at First Republic bank, there is a profile for husband (primary person) and another for wife (secondary person); the information do not auto-populate and the staff did not pay attention. Third, their staff mistakenly changed my address while the change was meant for a different member. It took them a week to investigate and correct. Afterward, it took them another week to update my home address and phone number after numerous calls, online requests and a walk-in.
Furthermore, their online computer system shows transactions in double at times. For example, my water bill and external money transfer appear twice this morning, 1/30/19. Similar computer cliche had happened four months ago.
So why are we with them? Because the debit card of the ATM rebate checking account allows fee-less ATM withdrawals, nationally and internationally. Because once in a while, we need to visit a physical branch for cash in a certain denomination or for notary public (only used once in 7 years). Because the local Chase and BoA are even worse for us. Because of our lack of imagination and mental laziness.

CD's Buyers Beware

Be Cautious about NEW CD "Products".  One "otherwise Attractive" CD Product requires a customer to open a New Checking Account with a modest Minimum Balance.  The small minimum balance may be a little nuisance, but it is NOT the problem.  The problem IS that one must wait about 2 days to actually "purchase" the New CD.  So don't be tempted to deposit your check (for the amount of the CD and the "minimum checking account balance") into the New Checking Account, because you won't be credited (at the CD Rate) for the 2 days that your money sits in the checking account. 

First Republic COULD make the CD's Date of Issue the day you deposit your cashiers check in the institution (LIKE MOST BANKS DO), but they'd miss out on all the extra gravy from this "trick".  You may think YOUR lost interest is not worth the hassle, but to the Bank, it's not peanuts.  For example, $2 billion (a GUESS) @ 3% APY (a GUESS) for 2 days is >$328,000.00.--a pretty nice bonus for the the Bank's CEO.

Amateurish, Inept, And High Fees

Posted by: |

Here's my experience after about a month since opening the checking account. I'll let you judge and rate it for yourself as to whether thiss what your looking for from a bank. Perhaps my expectations are too high, since I've only used credit unions for the past 35 years.

When I opened the account:

a.) My Noe Valley banker cautioned me to not overdraw the account.

b.) When I told my Noe Valley banker I may move overseas and asked if I could I keep the account open, he responded that depends on the reason for my relocating. Perhaps he was wondering if I had an illicit reason for moving.

After those two very unwelcoming, unprofessional remarks, I was treated to the following:

After waiting for my checks for a few weeks, I first called the main number to inquire, and they told me it takes a while from Harland Checks, but they couldn't confirm that it was actually ordered or mailed. Then I called my Noe Valley banker a few days later, he told me to give it until the end of the week. I gave it until the following week and contacted him again. He finally actually looked into it, and got back with me "Your checks were NOT delivered for some reason".

You might be thinking right about now, well who writes checks anymore. FYI, I haven't received by debit card either, which makes it tough to get cash.

On the day I received an opt-out letter to not have my personal info shared with other financial businesses for marketing, I got on the phone and opted-out with the automated system. I started getting envelopes in my mail box from OneMain Financial, and others, within two days. When I emailed my Noe Valley banker about my displeasure with FRB, writing "I would have expected at least a one-day pause before the spigot was opened to allow me to respond", his response was "...The banking industry is massively regulated as you know, so at times we may "over-document" you." So he's telling me Regulations make unwanted solicitations mandatory?! The opt out election was bogus, as was that excuse.

Not the most professional or efficient treatment, IMHO, for a checking account that carries a $25/month fee if $3,500 is not kept on deposit.

BE AWARE. You Could Lose Your Money Too!!!!

BE AWARE!! I have lost a lot of money with them!!! I used to like this bank, until I actually realize they had made a mistake and sent my money order 2x. They cost me a lot of money. It is an inexcusable mistake for a bank. The worst part is that they did not return my money, even though  they admitted making a mistake. Don't trust a bank that cannot stand by their clients. You could be next. If you experience any issues with them please let me know. I need support to recover my money.


Health Grade Components

FDIC Certificate #59017
Year Established2010
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.88%
Return on Equity - YTD10.32%
Annual Interest Income$2.52B
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$197.9B$161.6B
LoansQ2 2022vs Q2 2021$150.8B$122.5B
DepositsQ2 2022vs Q2 2021$165.6B$134.7B
Equity CapitalQ2 2022vs Q2 2021$16.43B$13.27B
Loan Loss AllowanceQ2 2022vs Q2 2021$728.9MM$636.9MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$137.2MM$132.9MM
Real Estate OwnedQ2 2022vs Q2 2021$0$0
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Always verify rates and promotions with the bank or credit union. We are not First Republic Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

First Republic Bank Savings Account Rates

1.55%*$1m*-Passbook Savings
OTHER TIERS: 1.30% Up to $25k | 1.40% $25k - $500k | 1.50% $500k - $1m

First Republic Bank Money Market Rates

1.50%*$500k*-Money Market Savings
OTHER TIERS: 1.30% Up to $250k | 1.40% $250k - $500k
1.50%*$500k*-Money Market Checking
OTHER TIERS: 1.30% Up to $250k | 1.40% $250k - $500k
1.50%*$5m*-Business Money Market
OTHER TIERS: 1.30% Up to $500k | 1.40% $500k - $5m
1.50%*$1m*-Business Reward Money Market Savings
OTHER TIERS: 1.30% Up to $500k | 1.40% $500k - $1m

First Republic Bank Checking Account Rates

0.01%$5k-Business Interest Checking
0.00%$3.5k-ATM Rebate Checking

First Republic Bank CD Rates

4.05%$10k$1m8 Month CD Special
4.05%$10k-Business 8 Month CD Special
3.75%$10k-4 Month CD Special
3.75%$10k-Business 4 Month CD Special
3.15%$5m-30 Day CD Special
3.15%$5m-Business 30 Day CD Special
3.10%$10k$3m5 Year CD
3.10%$10k$3m6 Year CD
3.10%$10k-Business 5 Year CD
3.10%$10k-Business 6 Year CD
3.00%$10k$3m2 Year CD
3.00%$10k$3m3 Year CD
3.00%$10k$3m4 Year CD
3.00%$10k-Business 2 Year CD
3.00%$10k-Business 3 Year CD
3.00%$10k-Business 4 Year CD
2.95%$10k$3m18 Month CD
2.95%$10k-Business 18 Month CD
2.90%$10k$3m12 Month CD
2.90%$10k-Business 12 Month CD
2.80%$10k$3m6 Month CD
2.80%$10k-Business 6 Month CD
2.75%$10k$3m3 Month CD
2.75%$10k-Business 3 Month CD
2.00%$10k$3m30 Day CD
2.00%$10k-Business 30 Day
1.75%$10k$3m8 Month Liquid CD

First Republic Bank IRA Rates

3.10%$10k$3m5 Year IRA
3.10%$10k$3m6 Year IRA
3.00%$10k$3m2 Year IRA
3.00%$10k$3m3 Year IRA
3.00%$10k$3m4 Year IRA
2.95%$10k$3m18 Month IRA
2.90%$10k$3m12 Month IRA
2.80%$10k$3m6 Month IRA
2.75%$10k$3m3 Month IRA


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