Republic Bancorp Inc/KY - RBCAA STOCK NEWS

Republic Bancorp reported strong Q2 2024 results, with net income of $25.2 million and Diluted EPS of $1.30, representing increases of 20% and 22% over Q2 2023. Key highlights include:

- Core Bank net income increased 24% to $15.0 million
- Net interest income rose 3% to $52.8 million
- Noninterest expenses decreased 6% to $42.6 million
- Republic Processing Group net income grew 14% to $10.2 million

The company maintained excellent asset quality with net charge-offs to average loans of only 0.02%. While loan growth slowed due to pricing discipline, the bank achieved a high Net Promoter Score of 67.2, significantly above the industry average. Management remains focused on deposit growth and creating long-term shareholder value.

Republic Bancorp, Inc. (NASDAQ: RBCAA), the parent company of Republic Bank & Trust Company, has declared a cash dividend for its shareholders. The company will pay $0.407 per share on Class A Common Stock and $0.37 per share on Class B Common Stock. The dividend is payable on October 18, 2024, to shareholders of record as of September 20, 2024.

Republic Bancorp operates 47 banking centers across five metropolitan statistical areas in Kentucky, Indiana, Ohio, Florida, and Tennessee. As of March 31, 2024, the company had approximately $6.9 billion in total assets. Republic Bank also offers internet banking services through its website www.republicbank.com.

Republic Bancorp, parent company of Republic Bank & Trust, announced a cash dividend of $0.407 per share on Class A Common Stock and $0.37 per share on Class B Common Stock. The dividends will be payable on July 19, 2024, to shareholders of record as of June 21, 2024.

Republic Bancorp operates 47 banking centers in five states, including Kentucky, Indiana, Ohio, Florida, and Tennessee. The company offers internet banking services and has a loan production office in St. Louis, Missouri. As of March 31, 2024, Republic Bancorp had total assets of approximately $6.9 billion. The Class A Common Stock is listed on NASDAQ under the symbol RBCAA.

Republic Bancorp, Inc. and Republic Bank & Trust Company have appointed two new directors, Yoania “Jo” Cannon and Alejandro “Alex” Sanchez, to their boards. Cannon brings strong managerial and finance expertise from positions at Brown-Forman , while Sanchez's background includes banking, military, and legal experience. Their addition is expected to enhance the company's strategic direction and community impact.

Republic Bancorp, Inc. (NASDAQ: RBCAA) reported a strong first-quarter 2024 with a net income of $30.6 million. The company, based in Louisville, Kentucky, serves as the holding company for Republic Bank & Trust Company.

Republic Bank, based in Kentucky, has been named a top-50 best-performing bank by S&P Global Market Intelligence. The bank achieved this ranking due to its strong financial performance, growth, and funding. Republic Bank stands out as the highest-ranked bank in Kentucky, showcasing its stability and commitment to clients.

Republic Bank & Trust Company has been recognized as one of America’s Best Regional Banks and Credit Unions 2024 by Newsweek and Plant-A-Insights Group. This acknowledgment is based on real consumer input, showcasing the Bank's commitment to delivering customer-focused financial services. Republic was also named to Newsweek’s Best Online Lenders in America 2024 list, highlighting its technological leadership and customer-first approach.

Republic Bancorp, Inc. (NASDAQ: RBCAA) is the holding company of Republic Bank & Trust Company, headquartered in Louisville, Kentucky. The company recently announced its financial results for the first quarter of 2021, reporting a net income of $14.9 million, a 39% increase from the same period last year. The total revenue also saw a significant rise, reaching $74.3 million, marking a 24% increase year-over-year. The Bank's total assets grew to $6.1 billion, reflecting a 17% increase from the first quarter of 2020. These positive financial indicators demonstrate the company's strong performance and growth in the current market conditions.

Republic Bancorp, Inc. (RBCAA) announced a 9% increase in quarterly cash dividends for Class A and Class B Common Stock, payable on April 19, 2024. This results in an annualized dividend yield of 3.20% for Class A Common stock. The company has 47 banking centers across five states and approximately $6.6 billion in assets as of December 31, 2023.