First Republic Bank’s stockholders approved the merger of First Republic with a Merrill Lynch & Co., Inc. subsidiary at a special stockholders meeting held today.

More than 99% of the votes cast approved the transaction. Under the terms of the deal, which was announced on January 29, First Republic stockholders will receive $55.00 for each share of First Republic common stock. Stockholders may elect to receive cash or shares of Merrill Lynch common stock (or a combination of cash and Merrill Lynch common stock), subject to proration, such that the aggregate consideration to be paid by Merrill Lynch will be 50% cash and 50% Merrill Lynch common stock.

The completion of the merger remains subject to the receipt of regulatory approval. The merger is currently expected to be completed in the third quarter.

“We’re very pleased with the overwhelming approval of the transaction by our stockholders,” said Jim Herbert, president and CEO of First Republic. The firm, which provides wealth management, private banking and private business banking services, has total assets of $34.1 billion.