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First Republic Bank (OTC: FRCB) was one of the top performing banks in the United States, focused on delivering to high net worth individuals. In this blog, we will analyze historical FRC / FRCB stock prices and make predictions for where the stock could be headed in the near future and long term time horizons of 2023, 2025 and 2030. Plus, we will evaluate study analyst recommendations on whether FRC or FRCB stock is a buy, hold or sell right now.
01
of 07About First Republic Bank (FRC / FRCB)
First Republic Bank, established in San Francisco in February 1985 by Jim Herbert, was California-chartered industrial loan company before it became a commercial bank and wealth management service provider. Herbert, who had experience as the founder and CEO of San Francisco Bancorp, helped the bank grow fast. The bank opened 93 offices in 11 states, mainly in New York, California, Massachusetts, and Florida. where It served high-net-worth individuals with personal banking services. In August 1986, the bank went public on the Nasdaq at $10 per share.
Further, The bank grew by acquiring other companies, such as Silver State Thrift in 1993, Trainer Worthman & Co in 1998, and Starbuck, Tisdale & Associates in 2001. In 2007, Merrill Lynch bought First Republic for $1.8 billion, but, because of a financial crisis, Merrill Lynch sold it to Bank of America. Then, In 2010, private investors, including Colony Capital and General Atlantic, bought the bank for about $1 billion.
During this time, First Republic also bought other companies and invested in startups to offer more services and get more clients. For example, it bought Luminous Capital in 2012 for $125 million and Constellation Wealth Partners in 2015 for $115 million. It also invested in Gradifi in 2016 and CommonBond in 2018 to help with student loans.
However, The bank faced some challenges in 2019 when 50 client advisors, who managed $17 billion in assets, left after the bank bought Luminous. Despite that, First Republic kept serving its clients well until it closed. In 2023, JPMorgan Chase bought it during a banking crisis.
02
of 07First Republic Bank (FRC / FRCB) History
First Republic Bank (FRC) entered the market with its initial public offering in 1986 at $10 per share. The nascent bank quickly captivated the attention and confidence of investors, with its stock appreciating over 100% within the first year.
In 1990s, The bank underwent significant expansion, marking a series of strategic acquisitions and obtaining a banking charter. These moves, including the acquisition of Silver State Thrift and the conversion into First Republic Savings Bank, translated into a robust increase in the bank’s stock value, which escalated from $15 to a commendable $40 during the decade.
In 2010, First Republic experienced another significant transition, being sold to private investors and re-entering the public market by December of the same year. This re-entry, marked by an IPO that raised $280.5 million, saw FRC stocks trading on the NYSE at $27.4. Despite experiencing a dip to $23 mid-2011, it attracted new investment and eventually climbed, reaching a peak of $55 in July 2014. The stocks experienced fluctuations but again surged to hit the $100 mark in September 2017.
However, the outbreak of the COVID-19 pandemic in 2020 saw a decline in FRC stock to $80. Despite this setback, the scenario presented a valuable opportunity for potential buyers, leading to a vigorous recovery of FRC stock in the succeeding years, with it reaching a zenith of $220 in 2021.
Nevertheless, the stock experienced a decline afterward, hitting a low of $136 in 2022, and eventually plummeting to $1 in March 2023 amid a U.S. banking crisis.
Currently, FRC stocks are not tradable and delisted from all exchanges.
FRC | FRCB Price History
Below is the yearly data for the First Republic Bank stock.
| Date | Open | High | Low | Close | Adj Close | Volume |
|---|---|---|---|---|---|---|
| Sep 01, 2023 | 0.1500 | 0.1500 | 0.0600 | 0.0700 | 0.0700 | 8,267,700 |
| Sep 01, 2022 | 151.2000 | 158.5300 | 130.3500 | 130.5500 | 129.9916 | 21,266,800 |
| Sep 01, 2021 | 199.0700 | 203.9800 | 190.7500 | 192.8800 | 190.9371 | 14,448,500 |
| Sep 01, 2020 | 112.4400 | 116.7600 | 100.3800 | 109.0600 | 107.3971 | 17,670,400 |
| Sep 01, 2019 | 88.7400 | 98.1500 | 87.4300 | 96.7000 | 94.5494 | 24,585,300 |
| Sep 01, 2018 | 101.3100 | 104.8600 | 95.3800 | 96.0000 | 93.1478 | 20,440,400 |
| Sep 01, 2017 | 97.2500 | 104.9900 | 91.9800 | 104.4600 | 100.6186 | 14,640,800 |
| Sep 01, 2016 | 77.3700 | 78.5500 | 74.7000 | 77.1100 | 73.7301 | 15,899,000 |
| Sep 01, 2015 | 49.0900 | 50.0000 | 47.5900 | 49.3800 | 46.2916 | 21,023,800 |
| Sep 01, 2014 | 49.0900 | 50.0000 | 47.5900 | 49.3800 | 46.2916 | 21,023,800 |
| Sep 01, 2013 | 44.9600 | 47.5000 | 44.2300 | 46.6300 | 43.3765 | 15,687,200 |
| Sep 01, 2012 | 32.7000 | 34.8900 | 32.2700 | 34.4600 | 31.6692 | 11,229,400 |
| Sep 01, 2011 | 25.4100 | 25.6800 | 22.8000 | 23.1600 | 21.2190 | 9,240,700 |
03
of 07First Republic Bank (FRC / FRCB) Stock Forecast & Price Prediction
We know that FDIC has closed the bank, and its assets are sold to JPMorgan. But, There exists a slight possibility that the over-the-counter FRC stock may recover. Below is the table of First Republic Bank stock forecast from 2023 to 2030.
| Year | Avg Price | Max Price | Min Price | % Change |
|---|---|---|---|---|
| 2023 | $0.12 | $0.21 | $0.07 | +108.52% |
| 2024 | $0.23 | $0.32 | $0.16 | +246.58% |
| 2025 | $0.33 | $0.43 | $0.27 | +385.71% |
| 2026 | $0.46 | $0.63 | $0.38 | +593.64% |
| 2027 | $0.65 | $0.83 | $0.54 | +872.45% |
| 2028 | $0.86 | $1.24 | $0.72 | +1291.30% |
| 2029 | $1.27 | $1.84 | $1.08 | +1982.15% |
| 2030 | $1.73 | $2.29 | $1.57 | +2678.32% |
First Republic Bank (FRC / FRCB) Stock Forecast & Price Prediction for 2023
In 2023, the stock of First Republic Bank (FRC / FRCB) is expected to increase notably. The average price is predicted to be $0.12, which is a significant 108.52% increase from current value. The highest price might reach $0.21, and it is not expected to go below $0.07.
First Republic Bank (FRC / FRCB) Stock Forecast & Price Prediction for 2024
In 2024, First Republic Bank’s stock (FRC / FRCB) is expected to grow a lot. Predictions say the average price will be $0.23, which is a big increase of 246.58% from earlier prices. The highest price might be $0.32, and the lowest will be around $0.16.
First Republic Bank (FRC / FRCB) Stock Forecast & Price Prediction for 2025
In 2025, the stock of First Republic Bank (FRC / FRCB) is likely to keep growing. The average price is predicted to be $0.33. It might reach a high of $0.43 and won’t go below $0.27. This means the stock price is moving up steadily, with a total increase of 385.71%.
First Republic Bank (FRC / FRCB) Stock Forecast & Price Prediction for 2026
By 2026, it is predicted that the stock of First Republic Bank (FRC / FRCB) will be even stronger in the market. The average price is expected to be $0.46. The highest price might be $0.63, and it will stay above $0.38. This is a huge change of 593.64%.
First Republic Bank (FRC / FRCB) Stock Forecast & Price Prediction for 2027
In 2027, the stock of First Republic Bank (FRC / FRCB) is expected to keep going up. The average price might be $0.65, with the highest price possibly reaching $0.83 and not going below $0.54. This is a big increase of 872.45%.
First Republic Bank (FRC / FRCB) Stock Forecast & Price Prediction for 2028
In 2028, more growth is expected for First Republic Bank’s stock (FRC / FRCB). The average price of the stock is predicted to be $0.86. It might reach a high of $1.24 and will stay above $0.72. This means there might be a huge change of 1291.30%.
First Republic Bank (FRC / FRCB) Stock Forecast & Price Prediction for 2029
Moving into 2029, the stock of First Republic Bank (FRC / FRCB) is likely to continue growing. The average price is expected to be $1.27, with the highest price possibly being $1.84 and the lowest around $1.08. This is a big change of 1982.15% from earlier years.
First Republic Bank (FRC / FRCB) Stock Forecast & Price Prediction for 2030
By 2030, the stock of First Republic Bank (FRC / FRCB) is predicted to have an average price of $1.73. The price might peak at $2.29 and won’t fall below $1.57. This is a significant increase of 2678.32%.
04
of 07Why is First Republic Bank Stock Down?
In March 2023, First Republic Bank experienced a drop in its credit rating from Fitch Ratings and S&P Global Ratings due to a large number of uninsured deposits from wealthy customers and a loan-to-deposit ratio of 111%. This ratio indicates that the bank had lent out more money than it had in deposits. Despite receiving a $30 billion deposit from eleven major American banks, including JPMorgan Chase and Bank of America, the bank’s stock value continued to fall.
On March 19, S&P further downgraded First Republic’s credit rating to junk status. This downgrade highlighted serious business, liquidity, funding, and profitability issues the bank was encountering. With a capital shortfall of $13.5 billion, the bank faced liquidity issues similar to those that led to Silicon Valley Bank’s collapse. During this crisis, customers withdrew around $104.5 billion in deposits, a trend that ceased in April. This significant withdrawal occurred because many clients had assets over $250,000, the amount not covered by the Federal Deposit Insurance Corporation (FDIC). In response, First Republic began exploring different strategies and planned to reduce the size of its balance sheet.
By April 28, First Republic had plans to sell its bonds and securities at a loss and had begun laying off employees to mitigate the crisis. With its stock price having fallen by 43%, the FDIC contemplated taking over the bank. After the stock price experienced an additional 42% decline, the FDIC decided to proceed with the takeover. It was then announced that various banks, including JPMorgan Chase, PNC, and Bank of America, had until April 30 to place bids for First Republic Bank. On May 1, the FDIC announced the closure of First Republic Bank, taking possession of its assets. JPMorgan Chase won the bid, paying the FDIC $10.6 billion for the majority of First Republic’s assets.
05
of 07Will First Republic Bank (FRC / FRCB) Recover?
In simple words, it seems very unlikely that First Republic Bank (FRC) stock will recover. The bank is now closed, and JPMorgan has taken its assets. This situation makes it hard for FRC \ FRCB stock to get back its lost value.
Of course, People who own FRC stock are in a tough spot. They won’t get shares in JPMorgan, and they will face financial losses. According to rules set by the FDIC, these stock owners will only get money if there is some left after paying other debts. As a spokesperson from FDIC told CBS, ““Shareholders are at the end of the queue if any proceeds remain.” Also, First Republic has stopped paying dividends and might issue new shares, as reported by The Wall Street Journal.
06
of 07First Republic Bank (FRC / FRCB) : Buy, Sell or Hold?
Currently, Wall Street experts overwhelmingly recommend avoiding First Republic stock due to its high risk following the collapse. Also, According to MarketBeat, FRC has a consensus analyst rating of “Hold,” based on 10 “Buy” ratings, 37 “Hold” ratings, and 5 “Sell” ratings, with an average rating score of 2.45 out of 5.
07
of 07First Republic Bank (FRC / FRCB) FAQs
How did First Republic Bank collapse?
First Republic’s all-time highest stock price was $203.98, reached in September 2021. The previous high was around $55 per share in 2007, prior to the financial crisis.
How did First Republic Bank collapse?
First Republic failed due to liquidity issues, deposit withdrawals, and capital shortfalls during the 2023 US banking collapse. Its risky reliance on brokered deposits made it vulnerable when high net worth customers moved their money out.
What will happen to First Republic customers?
After JPMorgan Chase acquired First Republic’s assets, customer accounts were transferred. Each account has FDIC protection up to $250,000 per ownership category.
Could First Republic stock go to zero?
While it’s unlikely to go to absolute zero due to FDIC resolution, massive dilution from recapitalization and reputational damage could push prices close to zero.
Is First Republic Bank stock a good buy now?
No, FRC stock remains an extremely speculative investment after the collapse. In fact, People who already own FRC stock will face financial losses.
Does First Republic Bank pay dividends?
No, First Republic Bank has not paid any dividends on its stock since 2015, after resuming them briefly post-IPO. Dividends are suspended indefinitely.
Could First Republic get acquired again?
While possible, it’s unlikely in the near term given the financial problems. A stronger bank may consider acquiring First Republic once it recovers, to gain customer assets.
What was the FDIC bank failure auction price?
The FDIC sold First Republic’s assets to JPMorgan Chase for $10.6 billion during the failure auction bidding process.
