Why First Republic Bank is chasing the wealthy in Wyoming


First Republic Bank is trekking to Jackson, Wy., where the San Francisco-based bank will open a branch later this year.

First Republic (NYSE: FRC) often focuses on urban professionals in the nation’s coastal cities — think Boston, New York and Los Angeles.

Snow-capped mountains and Old Faithful might come to mind when one mentions Wyoming. But Jackson is a wealthy enclave that draws the nation’s rich who enjoy skiing, not to mention the favorable tax climate. Wyoming doesn’t have a personal…

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