First Republic Bank (NYSE:FRC) reported its Q3 results, with GAAP EPS coming in at $1.91, beating the consensus estimate of $1.84.

The quarterly fundamentals trends were solid with average loans up 23% year-over-year, average deposits up 40% year-over-year, and net interest income up 27% year-over-year.

The company reiterated its full 2021-year guidance, including loan growth in the mid-teens. The company also implied that loan growth for 2022 could also be in the mid-teens range, which is viewed positively by the analysts at Wedbush, given investors may have been concerned that management could lower its growth expectations given the prospect of rising rates.