Republic Bancorp Inc/KY - RBCAA STOCK NEWS

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.

Republic Bank & Trust Company has been recognized as the Best Bank in Kentucky among banks with assets up to $10 billion in Newsweek’s annual rankings. This accolade reflects the bank's strong customer service, digital presence, and community commitment. In addition to this recognition, Republic has engaged in significant community lending, including a $10 million loan to support a health and wellness facility. The bank has approximately $6.2 billion in assets and operates 42 banking centers across five states, listed under the ticker RBCAA.

Republic Bank & Trust Company announced that Logan Pichel will become the Chief Executive Officer on October 1, 2021, in addition to his current role as President. Steve Trager will transition to Executive Chair but remain CEO of the parent company. Pichel's appointment follows a strong financial performance, with a 51% increase in net income for the second quarter of 2021 compared to 2020. The leadership changes aim to ensure continuity and commitment to high-quality service and community engagement.

Republic Bancorp, Inc. reported a strong second quarter 2021 with net income of $23.9 million, a significant 51% increase compared to Q2 2020. This resulted in a Diluted EPS of $1.16. Year-to-date income reached $50.0 million, an 18% increase. Notably, the company aims to sell its Tax Refund Solutions business to Green Dot for $165 million, reflecting a focus on optimizing operations. Despite industry challenges impacting net interest margins, the company achieved a 6% growth in deposits, totaling $5.0 billion. ROA and ROE stood at 1.57% and 11.86%, respectively.

Republic Bancorp, Inc. (NASDAQ: RBCAA) announced a cash dividend of $0.308 per share for Class A Common Stock and $0.28 for Class B Common Stock. The dividend is payable on October 15, 2021 to shareholders on record as of September 17, 2021. Republic Bancorp is the parent of Republic Bank & Trust Company, which operates 42 banking centers across five states, boasting assets of $6.5 billion. The company is headquartered in Louisville, Kentucky.

Republic Bank & Trust Company has appointed Jeff Starke as Executive Vice President and Chief Information Officer. Starke, who previously served as Chief Technology Officer at Bank OZK, will lead the Bank's IT strategy, focusing on innovative and secure services for employees and customers. His extensive experience includes managing technology resources, data center operations, and technology integration during acquisitions. Logan Pichel, President of Republic Bank, expressed confidence in Starke's ability to enhance the Bank's technology initiatives.