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 Ended |       |  | Six Months Ended |   |       | Year Ended   | 
|($ in thousands)                                  |  | Mar. 31,2011       |       |  | Mar. 31,2010     |   |       | Dec. 31,2010 |  |   | June 30,2010 |  |  | Dec. 31,2009 |       |  | Dec. 26,2008 |   |        | Dec. 28,2007 |  |   | Dec. 31,2006 | 
|I.       Earnings:                                |  |                    |       |  |                  |   |       |              |  |   |              |  |  |              |       |  |              |   |        |              |  |   |              |  |  |   |        |  |  |   |        | 
|Net income                                        |  | $                  | 4,223 |  |                  | $ | 3,589 |              |  | $ | 9,314        |  |  | $            | 7,073 |  |              | $ | 13,887 |              |  | $ | 15,881       |  |  | $ | 19,410 |  |  | $ | 18,456 | 
|Fixed charges excluding preferred stock dividends |  |                    |      |  |                  |   |      |              |  |   |             |  |  |              |      |  |              |   |       |              |  |   |             |  |  |   |       |  |  |   |       | 
|                                                  |  |                    |       |  |                  |   |       |              |  |   |              |  |  |              |       |  |              |   |        |              |  |   |              |  |  |   |        |  |  |   |        | 
|Earnings before fixed charges                     |  | $                  | 4,223 |  |                  | $ | 3,589 |              |  | $ | 9,314        |  |  | $            | 7,073 |  |              | $ | 13,887 |              |  | $ | 15,881       |  |  | $ | 19,410 |  |  | $ | 18,456 | 
|                                                  |  |                    |       |  |                  |   |       |              |  |   |              |  |  |              |       |  |              |   |        |              |  |   |              |  |  |   |        |  |  |   |        | 
|II.     Fixed charges:                            |  |                    |       |  |                  |   |       |              |  |   |              |  |  |              |       |  |              |   |        |              |  |   |              |  |  |   |        |  |  |   |        | 
|Preferred stock dividends                         |  | $                  | 2,531 |  |                  | $ | 2,531 |              |  | $ | 5,063        |  |  | $            | 5,062 |  |              | $ | 10,181 |              |  | $ | 10,125       |  |  | $ | 13,540 |  |  | $ | 14,252 | 
|                                                  |  |                    |       |  |                  |   |       |              |  |   |              |  |  |              |       |  |              |   |        |              |  |   |              |  |  |   |        |  |  |   |        | 
|III.    Ratios of earnings to fixed charges       |  |                    | 1.67x |  |                  |   | 1.42x |              |  |   | 1.84x        |  |  |              | 1.40x |  |              |   | 1.36x  |              |  |   | 1.57x        |  |  |   | 1.43x  |  |  |   | 1.30x  | 
|                                                  |  |                    |       |  |                  |   |       |              |  |   |              |  |  |              |       |  |              |   |        |              |  |   |              |  |  |   |        |  |  |   |        |