Republic Bancorp Inc/KY - RBCAA STOCK NEWS

Republic Bancorp (NASDAQ: RBCAA) announced a definitive agreement to acquire CBank in a cash merger valued at approximately $51 million. This acquisition includes CBank’s subsidiary, Commercial Industrial Finance, Inc., which specializes in equipment leasing. As of September 30, 2022, CBank reported total assets of $271 million and loans of $214 million. Upon completion, Republic Bank will enhance its presence in the Cincinnati area and significantly expand leasing operations.

Republic Bancorp reported a third quarter 2022 net income of $19.5 million, with Diluted EPS of $0.99. Year-to-date, net income stands at $71.3 million, a 2% increase from 2021. Key metrics include a return on average assets (ROA) of 1.52% and return on average equity (ROE) of 11.19%. Loan growth was significant, with an increase of $81 million in non-PPP Traditional Bank loans in Q3, totaling $300 million year-to-date. The company earned a 2022 Community Commitment Award from the American Bankers Association.

Republic Bancorp, Inc. (NASDAQ: RBCAA) reported a net income of $23.9 million for Q2 2022, matching the same period in 2021, leading to a diluted EPS of $1.20. Year-to-date net income increased by 4% to $51.8 million. One-time legal payments offset declines in PPP fee income, mortgage banking, and warehouse lending revenues due to rising interest rates. Key growth indicators included a 51% increase in net income from traditional banking, a loan growth of $213 million, and improved net interest margin. The outlook remains optimistic for the second half of 2022.

Republic Bancorp, Inc. (NASDAQ: RBCAA) announced a cash dividend of $0.341 per share on Class A Common Stock and $0.31 for Class B Common Stock. This dividend is payable on October 21, 2022, to shareholders of record as of September 16, 2022. The company, headquartered in Louisville, Kentucky, operates 42 full-service banking centers across five states and holds $6.3 billion in assets. This announcement reflects the bank's commitment to returning value to its shareholders.

Republic Bancorp, Inc. has appointed Jennifer N. Green and Timothy S. Huval to its Board of Directors. Green brings experience from YUM! Brands, while Huval has a background with Humana Inc. Both add extensive expertise in operations and human resources, enhancing the company’s strategic direction. Steve Trager, Executive Chair, expressed confidence in their contributions to strengthen community service efforts and operational efficiency. The company, based in Louisville, Kentucky, has assets totaling approximately $6.3 billion and its stock trades under the symbol RBCAA.

Republic Bancorp, Inc. (NASDAQ: RBCAA) has announced a cash dividend of $0.341 per share for Class A Common Stock and $0.31 for Class B Common Stock. This dividend is payable on July 15, 2022 to shareholders of record as of June 17, 2022. With total assets amounting to $6.3 billion, Republic Bank operates 42 full-service banking centers across five states. This indicates the company's commitment to rewarding its shareholders amidst a robust asset base.

Republic Bancorp, Inc. (NASDAQ: RBCAA) reported a first-quarter 2022 net income of $27.9 million, marking a 7% increase from the previous year. This resulted in a Diluted EPS of $1.40 and improved ROA and ROE at 1.74% and 13.19%, respectively. The Traditional Bank grew its non-PPP loan portfolio by $107 million, alongside a $94 million increase in total deposits. However, the Core Bank's net interest income decreased 15% due to reduced PPP revenues and lower mortgage banking income. The Tax Refund Solutions segment saw significant growth, achieving $15.4 million in net income, largely influenced by a lower estimate for loan losses.

Republic Bancorp, Inc. (NASDAQ: RBCAA) reported a fourth-quarter 2021 net income of $16.8 million, with diluted EPS of $0.84, a decline of 14% compared to Q4 2020. Full-year net income rose 4% to $86.8 million. Key metrics included a 17% drop in income before tax expense for Q4 and a 12% decrease in net interest income. Positive highlights were a 5% increase in noninterest-bearing deposits and a successful CEO transition. However, noninterest income fell 19%, primarily due to a decline in mortgage banking income. The company maintains robust credit quality despite elevated allowance levels.