First Republic Bank Q3 Profit Rises - Quick Facts

(RTTNews) - First Republic Bank (FRC) reported that its third-quarter net income available to shareholders rose to $101.59 million or $0.75 per share, from $97.03 million or $0.72 per share, a year ago. Non-GAAP net income available to shareholders for the quarter was $86.54 million or $0.64 per share.

On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $0.76 for the quarter. Analysts' estimates typically exclude special items. Net interest income increased to $308.21 million, from $298.82 million last year. Total noninterest income was $53.63 million, compared to $43.84 million prior year.

Total revenues were $361.8 million for the quarter, compared to $342.7 million for the third quarter last year, a 5.6% increase. Core revenues were $331.2 million for the quarter, an increase of 12.0% over the third quarter last year. Analysts expected the company to report third-quarter revenue of $320.72 million.

The Bank declared a cash dividend for the third quarter of $0.12 per share of common stock, which is payable on November 15, 2013 to shareholders of record as of November 1, 2013.