Investopedia: First Republic Looks To Be A Very Different Kind Of Bank

Costs have become something of a grand obsession with commercial banks recently, as regulatory changes have cut off formerly lucrative revenue sources. First Republic (NYSE:FRC) is a different sort of bank, though. This bank focuses on growing its share of the lucrative high net worth (HNW) market, and it's using a "high-touch" model that has thus far generated solid high-quality growth.

Hunting the Elephants and Whales
Whereas other California banks like Wells Fargo (NYSE:WFC) and City National (NYSE:CYN) generally try to get as many depositors as they can with a minimum of expense, First Republic has targeted HNW individuals as its clientele. This has enabled the company to become the No.10 bank in California (by deposit share) and the No.26 bank in New York with only 56 deposit-taking branches in eight cities.

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