EXHIBIT 12



FIRST REPUBLIC PREFERRED CAPITAL CORPORATION

(A Majority Owned Subsidiary of First Republic Bank)



STATEMENT OF COMPUTATION OF

RATIOS OF EARNINGS TO FIXED CHARGES



|                       |  |                                                   |  |                                 |       |   |                                |      |       |   |      |   |        |   |  |   |        |  
|---------------------- |  | ------------------------------------------------- |  | ------------------------------- | ----- | - | ------------------------------ | ---- | ----- | - | ---- | - | ------ | - |  | - | ------ | -
|                       |  |                                                   |  | Three Months EndedSeptember 30, |       |   | Nine Months EndedSeptember 30, |     
|(Dollars in thousands) |  | 2005                                              |  |                                 | 2004  |   |                                | 2005 |       |   | 2004 |  
|I.                     |  | Earnings:                                         |  |                                 |       |   |                                |      |       |   |      |   |        |   |  |   |        |  
|                       |  | Net income before preferred stock dividends       |  | $                               | 4,048 |   |                                | $    | 3,965 |   |      | $ | 11,980 |   |  | $ | 11,923 |  
|                       |  | Fixed charges excluding preferred stock dividends |  |                                 |      |   |                                |      |      |   |      |   |       |   |  |   |       |  
|                       |  |                                                   |  |                                 |       |   |                                |      |       |   |      |   |        |   |  |   |        |  
|                       |  | Earnings before fixed charges                     |  | $                               | 4,048 |   |                                | $    | 3,965 |   |      | $ | 11,980 |   |  | $ | 11,923 |  
|                       |  |                                                   |  |                                 |       |   |                                |      |       |   |      |   |        |   |  |   |        |  
|II.                    |  | Fixed charges:                                    |  |                                 |       |   |                                |      |       |   |      |   |        |   |  |   |        |  
|                       |  | Preferred stock dividends                         |  | $                               | 3,563 |   |                                | $    | 3,563 |   |      | $ | 10,689 |   |  | $ | 10,689 |  
|                       |  |                                                   |  |                                 |       |   |                                |      |       |   |      |   |        |   |  |   |        |  
|III.                   |  | Ratios of earnings to fixed charges               |  |                                 | 1.14  | x |                                |      | 1.11  | x |      |   | 1.12   | x |  |   | 1.12   | x
|                       |  |                                                   |  |                                 |       |   |                                |      |       |   |      |   |        |   |  |   |        |