First Republic Bank: Congratulations on your independence!

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I broke free from Bank of America a few months ago. The bank I moved to, First Republic, was technically owned by Bank of America at the time. But their cultures and goals weren’t aligned. First Republic cares about great service, Bank of America doesn’t.

As of July 1, First Republic Bank is independent once again. The completed buyback coincided with First Republic’s 25th birthday and with Independence Day.

Congratulations!

You can learn more here.

7 comments

  1. We did the same thing about a year ago, after 7+ years at BofA when their branch rep said it was impossible to open a new account for a new business entity without all partners being present, FRB said "no problem" and BofA lost a long-standing customer that easily. My only regret is that we didn’t move over sooner.

  2. How’s the web interface?, We originally went with Citibank, but can’t live with it, they are circa 1996, excel spreadsheet. Need to change asap, BofA is looking good, but I have them as personal banking and hate the customer service.

  3. <html><head></head><body style="word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: after-white-space; ">you can actually demo the web interface here:<div><br></div><div><a href="https://www.firstrepublichb.com/onlineserv/HB/demo.html">https://www.firstrepublichb.com/onlineserv/HB/demo.html</a></div><div><br></div><div>it's not the greatest in the world, but it works. The personal service more than makes up for it.<br><div><div></div></div></div></body></html>

  4. Assuming it’s just coincidence, I find it funny that first thing this morning I got a call from our new "account rep" at BofA who told me that we now (after 7 years and ceasing activity 9 months ago) we have been reclassified to receive a dedicated account rep and team. When I told him that we had migrated our business interests to FRB (he hadn’t noticed the 99% activity decrease in our history), he said that he was prepared to work hard to woo us back… I laughed and respectfully declined. With our FRB account rep being physically located just 5 blocks from the office, it would take quite a bit of wooing to even begin to think about considering to entertain the notion of imagining to return to BofA.

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