First Republic Bank’s second-quarter earnings jumped 19.9% from a year earlier, as the institution ramped up lending to its wealthy clientele.

The $80.9 billion-asset company earned $641.3 million, or $1.06, missing by 3 cents the average estimate from analysts. The loan portfolio surged 21.3% to $57.4 billion, and net interest income grew 20.5% to $532 million.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry