FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report
April 15, 1997
FIRST REPUBLIC BANCORP INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-15882 94-2964497
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
388 Market Street
San Francisco, CA 94111
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(Address of principal executive office) (Zip Code)
(415) 392-1400
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(Registrant's telephone number, including area code)
Not applicable
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(Former name, former address, if changed since last report)
<PAGE>
FIRST REPUBLIC BANCORP INC. Page 2
Item 5. Other Events
First Republic Bancorp Inc. hereby files with the Securities and Exchange
Commission (the "Commission") its press release, dated April 14, 1997,
concerning its announcement of the completion conversion of its convertible
subordinated debentures due 2002, as distributed on April 14, 1997.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
First Republic Bancorp Inc.
(Registrant)
Date: April 15, 1997 --------------------------
Willis H. Newton, Jr.
Senior Vice President and
Chief Financial Officer
<PAGE>
FOR IMMEDIATE RELEASE
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FIRST REPUBLIC COMPLETE CONVERSION OF
CONVERTIBLE SUBORDINATED DEBENTURES
Common Stock Symbol - FRC
New York/Pacific Exchanges
San Francisco, California, April 14, 1997 - First Republic Bancorp Inc.
announced that on March 31, 1997 all of its 7 1/4% Convertible Subordinated
Debentures Due 2002 were converted into shares of common stock. By such date,
the entire issue of $34.5 million was converted into an aggregate total of
2,524,200 shares.
Willis H. Newton, Jr., First Republic's Chief Financial Officer, said "We
are pleased to report the 100% conversion of these debentures and appreciate
the confidence of our debenture holders. As a result of this conversion,
the Company will save over $2.5 million in annual interest payments and there
is no adverse effect on our fully diluted EPS calculation."
After the conversion, First Republic has 9,992,426 shares of common stock
outstanding and has total stockholders' equity of over $160 million.
The Trustee for the Convertible Subordinated Debentures was U.S. Trust
Company of California, N.A. The Company's Registrar and Transfer Agent for
common stock is ChaseMellon Shareholder Services, L.L.C.
First Republic Bancorp Inc. has total assets of $2.2 billion and functions
as a direct lender as well as a mortgage banker through its FDIC-insured
Nevada chartered thrift company subsidiary. First Republic Savings Bank
provides both loan and deposit services from thirteen locations in
San Francisco, Los Angeles, Beverly Hills and San Diego, California and in
Las Vegas, Nevada.
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For further information call:
Willis H. Newton, Jr.
Senior Vice President and
Chief Financial Officer
388 Market Street
San Francisco, CA 94111
(415) 392-1400
