First Republic's Commitment to Affordable Housing and Community Development

At First Republic, we take pride in our long-standing commitment to supporting our communities through innovative financing solutions and community development initiatives. Our efforts have earned us a satisfactory Community Reinvestment Act rating for 30 consecutive years, a testament to our dedication to creating a more sustainable future.

One of the key areas of focus for First Republic is affordable housing. We understand that access to safe and affordable housing is essential for building strong communities, which is why we have taken action to address the housing insecurity crisis exacerbated by the COVID-19 pandemic. Our Eagle Community Home Loan Program is designed specifically to help those in underserved communities become homeowners.

Through our program, we have made over 10,400 Eagle Community Home Loans totaling $4.6 billion since its inception in 2015, with a significant proportion of these loans going to minority individuals. We have also increased our capital commitment to community development financial institutions (CDFIs) such as the Housing Development Fund in Connecticut and the Florida Community Loan Fund in Florida.

In addition to our home loan program, we are also committed to rehabilitating affordable rental housing through low-income housing tax credit investments used to subsidize the acquisition, construction, and maintenance of these units. Since 2011, we have originated $6.2 billion of community development loans to finance the acquisition and maintenance of affordable rental units in our communities.

Our commitment to community development is not limited to lending and investment activities alone. We also engage with local community groups and organizations through our Community Advisory Board to identify innovative financing opportunities that create impact. For example, we have partnered with organizations such as the Bay's Future Fund and the San Francisco Housing Accelerator Fund in California to finance creative and cross-sector initiatives.

First Republic is proud of its long-standing membership in the California Community Reinvestment Corporation and its ongoing dialogue with community groups to continuously identify responsive and collaborative financing opportunities. Our regional Community Outreach Relationship Managers are dedicated to outreach efforts, focusing specifically on underserved and underrepresented communities in our markets.

Through our efforts, we aim to create and preserve affordable housing in our communities, ensuring that all individuals have access to safe and affordable housing. As a leading financial institution, we recognize the critical role we play in supporting these communities and will continue to leverage our position to strongly support affordable housing initiatives.

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