Hey kid, want some candy? Don’t worry about the wrapper. It, um, came like that. No? No candy for you? You’re sure? OK fine. Maybe you’re not hungry, but how about this 31% dividend ? Don’t worry . The stock made its last dividend payment of $0.27 just fine. No? No 31% yield for you? You’re sure? OK fine. And, honestly, smart move. I would imagine that January dividend payment is the last one we ever see from First Republic Bank (FRC) . Fundamentally, FRC (and other banks, for this matter) are flawed, perhaps fatally so. They are not paying competitive rates.… Read more