Neal Holland Named Chief Financial Officer and Olga Tsokova Named Deputy Chief Financial Officer of First Republic Bank

First Republic Bank (NYSE:FRC), a leading private bank and wealth management company, today announced that Neal Holland has been named Executive Vice President and Chief Financial Officer, and Olga Tsokova has been named Deputy Chief Financial Officer, effective November 2, 2022. Tsokova will also continue to serve as Executive Vice President and Chief Accounting Officer, in addition to her new responsibilities as Deputy CFO.

Holland will join First Republic from MUFG Union Bank, where he currently serves as the CFO of Union Bank and MUFG Americas and held roles of increasing responsibility over the past 14 years. He has over 20 years of strategic and operational financial experience across financial planning and analysis, accounting, regulatory affairs and executive management. Holland earned a Bachelor of Arts in Business Administration from the University of Washington and is a Chartered Financial Analyst® and Certified Public Accountant.

Mike Roffler, CEO and President of First Republic Bank, said, “Neal’s deep financial experience and broad understanding of the regulatory landscape will be very valuable as First Republic continues to deliver safe, consistent growth. Importantly, Neal’s client-centric and collaborative approach is aligned with our unique culture and business model.”

Holland said, “I’m excited to join First Republic and contribute to this outstanding culture and company as its Chief Financial Officer. I look forward to partnering closely with Mike, Olga and the leadership team to continue to drive consistent growth while maintaining exceptional client service.”

Tsokova joined First Republic in 2015 as Chief Accounting Officer and has served as acting Chief Financial Officer since January 2022. Previously, she served over 10 years at City National Bank and prior to that in the financial services audit practice at Ernst & Young. Tsokova holds a bachelor’s degree from the Moscow Finance Academy, and she is a graduate of Harvard Business School’s General Management Program and is a Certified Public Accountant.

Roffler said, “Olga has done an excellent job as our acting Chief Financial Officer, and we are delighted to appoint her to Deputy CFO in addition to her responsibilities as Chief Accounting Officer. Olga is a key leader at First Republic, and her success in overseeing our finance and accounting functions has been critical to our continued focus on safety and soundness.”

Tsokova said, “It has been a privilege to support First Republic as our acting CFO, and it is an honor to now serve in this new capacity,” said Tsokova. “I look forward to working with Neal as part of our exceptional team to deliver safety, stability and extraordinary service.”

About First Republic Bank

Founded in 1985, First Republic and its subsidiaries offer private banking, private business banking and private wealth management. First Republic specializes in delivering exceptional, relationship-based service and provides a complete line of products, including residential, commercial and personal loans, deposit services, and private wealth management, including investment, brokerage, insurance, trust and foreign exchange services. Services are offered through preferred banking or wealth management offices primarily in San Francisco, Palo Alto, Los Angeles, Santa Barbara, Newport Beach and San Diego, California; Portland, Oregon; Boston, Massachusetts; Palm Beach, Florida; Greenwich, Connecticut; New York, New York; Jackson, Wyoming; and Bellevue, Washington. First Republic is a constituent of the S&P 500 Index and KBW Nasdaq Bank Index. For more information, visit firstrepublic.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements about our expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. These statements are often, but not always, made through the use of words or phrases such as “anticipates,” “believes,” “can,” “could,” “may,” “predicts,” “potential,” “should,” “will,” “estimates,” “plans,” “projects,” “continuing,” “ongoing,” “expects,” “intends” and similar words or phrases. Accordingly, these statements are only predictions and involve estimates, known and unknown risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed in them. All forward-looking statements are necessarily only estimates of future results, and there can be no assurance that actual results will not differ materially from expectations, and, therefore, you are cautioned not to place undue reliance on such statements. Any forward-looking statements are qualified in their entirety by reference to the factors discussed throughout our public filings under the Securities Exchange Act of 1934, as amended. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.

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