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First Republic Bank


Overview / Commentary
www.firstrepublic.com
415-262-8767
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 CD rates are 4X the national average, and it has an A health rating.

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First Republic Bank And Signature Bank CDs With Pre-Commission Y-T-Ms Up To 6.824% - 3/15/2023

Numerous CDs issued by First Republic and Signature are available in the secondary market.at Vanguard. They tend to have short maturity dates, so commissions will significantly reduce the yields to maturity. They are all trading at discounts. The FDIC would pay off at par. But once the FDIC transmits funds to the brokerage, it will be a while before the funds appear in customers' accounts.

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Reviews (9)

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.

2

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.

7

Security Issues At Bank

Posted by: |

I was at this bank between July 2022 and just pulled out due to the latest bank crisis. not upset to leave them, as their mobile application and website are very basic, and not in line with today's expectations. By that, I mean very slow to show new deposits/withdrawals, and feels clunky. over my time here I have had several security notifications of attempted logins, causing me to change my password multiple times. Nothing about this bank was great. My account still can't close, because a transfer has been "pending" for a week, even though it completed on the other end days ago. I think they don't want to close the account. I don't think I need to tell anyone, as deposit accounts wont even show it's health grade anymore.

2

Junk Status

Posted by: |

A junk status bank with an "A" health rating. Apparently health ratings on this site don't mean much .

13
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Health
A

Data as of Q2 2022

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #59017
Year Established2010
Employees6902
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
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.01%†$5k-Business Interest Checking
0.00%†$3.5k-ATM Rebate Checking

First Republic Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.90%†$25k-11 Month CD Special
4.90%†$25k-Business 11 Month CD Special
4.50%†$25k-5 Month CD Special
4.50%†$25k-Business 5 Month CD Special
4.25%†$25k-60 Day CD Special
4.25%†$25k-Business 60 Day CD Special
3.50%†$10k$3m5 Year CD
3.50%†$10k$3m6 Year CD
3.50%†$10k-Business 5 Year CD
3.50%†$10k-Business 6 Year CD
3.40%†$10k$3m2 Year CD
3.40%†$10k$3m3 Year CD
3.40%†$10k$3m4 Year CD
3.40%†$10k-Business 2 Year CD
3.40%†$10k-Business 3 Year CD
3.40%†$10k-Business 4 Year CD
3.35%†$10k$3m18 Month CD
3.35%†$10k-Business 18 Month CD
3.30%†$10k$3m12 Month CD
3.30%†$10k-Business 12 Month CD
3.25%†$10k$3m6 Month CD
3.25%†$10k-Business 6 Month CD
3.15%†$3m-30 Day CD Special
3.15%†$3m-Business 30 Day CD Special
3.00%†$10k-3 Month CD
3.00%†$10k-Business 3 Month CD
2.75%†$10k$3m30 Day CD
2.75%†$10k-Business 30 Day
1.75%†$10k$3m8 Month Liquid CD

First Republic Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.50%†$10k$3m5 Year IRA
3.50%†$10k$3m6 Year IRA
3.40%†$10k$3m2 Year IRA
3.40%†$10k$3m3 Year IRA
3.40%†$10k$3m4 Year IRA
3.35%†$10k$3m18 Month IRA
3.30%†$10k$3m12 Month IRA
3.25%†$10k$3m6 Month IRA
3.00%†$10k$3m3 Month IRA
Locations

Availability

New York Area

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The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.