Republic Bancorp Inc/KY - RBCAA STOCK NEWS

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.

Republic Bancorp, Inc. (NASDAQ: RBCAA) has announced an 11% increase in its quarterly cash dividend. Shareholders will receive $0.341 per share on Class A Common Stock and $0.31 on Class B Common Stock, payable on April 15, 2022. The annualized dividend yield for Class A shares is now 2.73%, based on the January 25, 2022 closing price. This marks the 24th consecutive annual increase in dividends, reflecting the company's strong performance in earnings, capital, and credit quality.

Republic Bancorp declared cash dividends for its Class A and Class B Common Stock, amounting to $0.308 and $0.28 per share, respectively. These dividends are payable on January 21, 2022, to shareholders of record as of December 17, 2021. The company has approximately $6.5 billion in assets and operates 42 banking centers across five states, including Kentucky, Indiana, Florida, Tennessee, and Ohio, positioning itself as a significant player in the regional banking sector.

Republic Bancorp, Inc. (NASDAQ: RBCAA) reported a third quarter 2021 net income from continuing operations of $18.4 million, a 7% increase year-over-year. Diluted earnings per share (EPS) rose by 10% to $0.91, while year-to-date net income totaled $55.2 million, a 12% increase. The bank's total deposits reached a record $4.9 billion, up 5% since December 2020, enabling the repayment of a $41 million subordinated note. The bank was also recognized by Newsweek as one of America’s Best Banks 2022.

Republic Bank & Trust Company has been recognized as the Best Bank in Kentucky for institutions with assets up to $10 billion in Newsweek’s annual rankings. This accolade reflects the bank's commitment to community-focused banking and its efforts to provide accessible services to underserved communities. Earlier in the year, Republic led a partnership to fill a $10 million funding gap for a health facility in West Louisville. The bank, with approximately $6.2 billion in assets, operates 42 banking centers across five states.