Republic Bank Announces Executive Promotions to Propel Innovation Mar 17, 2026 2:25 PM Eastern Daylight Time Republic Bank Announces Executive Promotions to Propel Innovation Share New Chief Digital Officer and Chief Transformation Officer to lead AI strategy, modernization, and enterprisewide transformation. Alex Cravens LOUISVILLE, Ky.--(BUSINESS WIRE)--Republic Bank & Trust Company ("Republic†or the "Bank†) has announced two key executive promotions that further position the Bank for longterm growth an ...

Financial Overview - As of December 31, 2025, Republic Bancorp had total assets of $7.04 billion, total loans of $5.45 billion, total deposits of $5.20 billion, and total stockholders' equity of $1.10 billion[19]. - The company had 47 full-service banking centers as of December 31, 2025, located across Kentucky, Indiana, Florida, Ohio, and Tennessee[29]. - As of December 31, 2025, the Company had 973 full-time equivalent employees, with a focus on employee well-being and professional development[91]. - Republic Bank & Trust Company’s total capital to risk-weighted assets was $1,079,675, with a ratio of 16.80%, up from 16.14% in 2024[158]. Business Segments - The company operates through five reportable segments: Traditional Banking, Warehouse Lending, TRS, RPS, and RCS, with the first two segments constituting "Core Banking" operations[24]. - The Bank's commercial lending activities are primarily conducted through Corporate Banking, CRE Banking, Commercial Banking, Business Banking, Private Banking, and Retail Banking channels[38]. - The Republic Payment Solutions (RPS) segment offers prepaid and debit solutions, including payroll and general purpose reloadable cards, primarily targeting the consumer industry[77]. - The Republic Credit Solutions (RCS) segment provides unsecured, small dollar consumer loans, primarily to subprime or near-prime borrowers, with higher yields but also higher credit risk[81]. Financial Performance - Traditional Banking's income is primarily derived from net interest income, which is influenced by interest rates and the composition of interest-earning assets and liabilities[26]. - The company’s earnings are significantly influenced by the spread between interest earned on loans and investments and interest paid on deposits[171]. - The Tax Refund Solutions segment earned approximately $6 million of pre-tax net income from an expiring contract during the twelve-month period from October 1, 2024, to September 30, 2025[66]. Risk Factors - The company is exposed to various risks, including interest rate fluctuations, credit quality deterioration, and operational disruptions, which could impact financial performance[12]. - Management's projections of financial performance may differ materially from actual results due to various operational and strategic execution risks[16]. - The Bank's ability to control losses on ERAs/RAs is highly dependent on predicting the taxpayer's likelihood to receive the tax refund as claimed[71]. Regulatory Environment - The Company and the Bank are subject to extensive federal and state banking laws, which primarily protect depositors rather than stockholders[111]. - The Dodd-Frank Act introduced significant regulatory reforms, including the creation of the CFPB and enhanced regulation of derivatives[118]. - The EGRRCPA rolled back several Dodd-Frank requirements for community banks with assets under $10 billion, allowing the Company and the Bank to operate with fewer restrictions[119]. - The Bank is required to maintain noninterest-earning reserves against its transaction accounts, complying with Federal Reserve regulations[152]. Competition - The financial services industry is experiencing rapid technological transformation, impacting how consumers manage their financial lives[102]. - The Company faces strong competition from Fin-techs offering bank-like products, which may operate with lower regulatory compliance costs and innovate more quickly[104]. - The prepaid card industry is experiencing intense competition from various companies and large retailers integrating financial services into their offerings[108]. - The small-dollar consumer loan market is highly competitive, with various competitors including payday lenders and Fin-tech companies[109]. Strategic Initiatives - The company continues to invest in digital capabilities, cybersecurity, and operational infrastructure to maintain its competitive position amid strong competition in consumer and commercial banking[105]. - The Bank began selling loans to the Mortgage Purchase Program during 2024, indicating a strategic move to enhance liquidity and capital management[150]. - The company has adopted a Responsible Compensation and Sales Practices Program to comply with interagency guidance on incentive and executive compensation[170]. Community Engagement - The company has a focus on low-to-moderate income borrowers, assisting in meeting obligations under the Community Reinvestment Act (CRA)[35]. - The Bank received an "Outstanding" CRA Performance Evaluation in March 2024, indicating strong compliance with community reinvestment obligations[142].

Group 1: Leadership Changes - Republic Bank has promoted Kenya Lacy to Associate Vice President, Inclusion and Diversity Manager, highlighting the bank's commitment to an inclusive workplace culture [1] - Lacy has over 23 years of banking experience, including seven years at Republic Bank, and aims to foster environments where associates feel valued and empowered [1] - The bank's President & CEO, Logan Pichel, expressed confidence in Lacy's ability to impact the organization positively in her new role [1] Group 2: Community Engagement - Lacy will lead associate involvement in community events such as Juneteenth and Pride, ensuring these initiatives align with the bank's people-first mission [1] - Lacy is recognized as a 2026 Chestnut Street YMCA Black Achiever and actively participates in community initiatives, reinforcing the bank's commitment to service [1] Group 3: Financial Performance - Republic Bancorp reported a 20% increase in fourth quarter net income for 2025, reaching $22.8 million, with diluted earnings per share of $1.17, up from $19.0 million and $0.98 per share in the fourth quarter of 2024 [1] - The company achieved a return on average assets (ROA) of 1.28% and a return on average equity (ROE) of 8.20% for the fourth quarter [1] Group 4: Dividend Increase - Republic Bancorp announced a 10% increase in its quarterly cash dividends, marking the 28th consecutive year of dividend increases [2] - The new quarterly cash dividend will be $0.495 per share for Class A Common Stock and $0.45 per share for Class B Common Stock, payable on April 17, 2026 [2]

分组1 - Republic Bancorp reported quarterly earnings of $1.17 per share, missing the Zacks Consensus Estimate of $1.3 per share, but showing an increase from $0.98 per share a year ago, resulting in an earnings surprise of -10.00% [1] - The company posted revenues of $94.27 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 1.37% and increasing from $89.51 million year-over-year [2] - Republic Bancorp shares have gained approximately 3.5% since the beginning of the year, outperforming the S&P 500's gain of 1.8% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is $2.12 on revenues of $128 million, and for the current fiscal year, it is $6.15 on revenues of $415 million [7] - The Zacks Industry Rank for Banks - Southeast is currently in the top 16% of over 250 Zacks industries, indicating a favorable outlook for the sector [8]

Financial Performance - Total assets as of December 31, 2025, increased to $7,042,061, up from $7,014,919 as of September 30, 2025, reflecting a growth of 0.39%[4] - Total interest income for Q4 2025 was $103,233,000, slightly up from $103,108,000 in Q4 2024, resulting in a year-over-year increase of 0.12%[10] - Net interest income for Q4 2025 reached $78,810,000, compared to $75,394,000 in Q4 2024, reflecting a year-over-year growth of 4.8%[10] - Net income for Q4 2025 was $22,821,000, up from $19,016,000 in Q4 2024, which is an increase of 20.5%[10] - Net income for the year ended December 31, 2025, was $131,317, compared to $101,371 for the year ended December 31, 2024, reflecting a year-over-year increase of 29.5%[21] - Total net revenue for Q4 2025 was $94.269 million, an increase from $89.512 million in Q4 2024, representing a year-over-year growth of 5.5%[27] Asset and Liability Management - The total liabilities stood at $5,939,768, slightly up from $5,930,399, reflecting a marginal increase of 0.02%[4] - Stockholders' equity increased to $1,102,293 from $1,084,520, representing a growth of 1.56%[4] - Tangible stockholders' equity as of December 31, 2025, was $1,053.431 million, up from $942.581 million a year earlier, representing a growth of 11.8%[26] - The total stockholders' equity to total assets ratio was 15.65% as of December 31, 2025, compared to 14.49% a year prior, indicating improved capital adequacy[26] Loan and Deposit Activity - Loans held for sale rose significantly to $117,350 from $40,206 in the previous quarter, marking an increase of 192.5%[4] - Total loans increased to $5,446,329 in Q4 2025 from $5,281,374 in Q3 2025, reflecting a growth of 3.13%[12] - Total deposits decreased to $5,203,147 from $5,338,345 in the previous quarter, a decline of 2.52%[4] - Noninterest-bearing deposits were $1,173,461, down from $1,239,023, a decrease of 5.3%[4] - Total Core Bank Deposits increased to $4,809,179, a 4% increase from $4,606,457 in 2024[29] - Adjusted Core Bank Deposits reached $4,709,845, reflecting a 5% increase from $4,491,411 in 2024[29] Credit Quality and Losses - The allowance for credit losses on loans was $85,352 as of December 31, 2025, compared to $79,865 as of September 30, 2025, indicating a 6.2% increase[4] - Provision for credit losses increased to $10,079,000 in Q4 2025 from $12,951,000 in Q4 2024, indicating a decrease of 22.5%[10] - Total nonperforming loans increased to $23,967 thousand in Q4 2025 from $21,709 thousand in Q3 2025, representing a 10.4% increase[13] - Total nonperforming assets rose to $25,244 thousand in Q4 2025, up from $21,709 thousand in Q3 2025, indicating a 16.5% increase[13] - Delinquent loans for the total company reached $22,863 thousand in Q4 2025, compared to $19,382 thousand in Q3 2025, marking an increase of 12.8%[13] - The allowance for credit losses to total loans ratio was 1.57% in Q4 2025, up from 1.51% in Q3 2025[13] Operational Efficiency - The efficiency ratio increased to 59.8% in Q4 2025 from 57.4% in Q3 2025, indicating a decline in operational efficiency[11] - The efficiency ratio for Q4 2025 was 60.0%, an increase from 59.8% in Q4 2024, indicating a slight decline in operational efficiency[27] Segment Performance - The company operates through five reportable segments: Traditional Banking, Warehouse Lending, Tax Refund Solutions, Republic Payment Solutions, and Republic Credit Solutions[15] - The Republic Processing Group's primary revenue drivers include net interest income and program fees from tax refund solutions and consumer credit products[15] Interest and Expense Management - Total interest expense decreased to $24,423,000 in Q4 2025 from $27,714,000 in Q4 2024, a reduction of 11.6%[10] - The net interest margin improved to 4.69% in Q4 2025 from 4.62% in Q4 2024[10] - The net interest margin for the total company improved to 4.69% in Q4 2025 from 4.65% in Q3 2025[11] - The cost of average deposits decreased to 1.50% in Q4 2025 from 1.64% in Q3 2025[11] Miscellaneous - The number of full-service banking centers remained stable at 47 as of Q4 2025[11] - RAs and ERAs originated amounted to $12,924 thousand in Q4 2025, a significant decrease from $662,556 thousand in Q4 2024[13] - Net credit charge to the provision for RAs and ERAs was $(598) thousand in Q4 2025, compared to $(1,454) thousand in Q3 2025[13]

Core Viewpoint - Republic Bank & Trust Company has announced the promotion of Brad Comer to Chief Investment Officer, highlighting his significant contributions over the past two decades and the organization's commitment to its values and standards [1]. Company Summary - Brad Comer has been recognized as an invaluable member of the Republic Bank family, indicating his importance to the organization [1]. - Logan Pichel, President and CEO of Republic Bank, expressed pride in Comer's work and looks forward to collaborating closely with him in his new role [1].

Core Viewpoint - Republic Bank & Trust Company has promoted Emily Miller to Managing Director of Retail Banking, highlighting her embodiment of the organization's values and her consistent delivery of outstanding results [1] Group 1: Promotion Announcement - Emily Miller has been promoted to Managing Director of Retail Banking at Republic Bank & Trust Company [1] - The promotion reflects her strong leadership and ability to elevate team performance [1] - Logan Pichel, President and CEO of Republic Bank, praised Miller for fostering strong working relationships within her team [1]

Core Viewpoint - Republic Bank & Trust Company has appointed Robert W. Etherington as Senior Vice President and Market Manager for Butler, Warren, and Clermont County markets, bringing 34 years of banking experience to the role [1][3] Group 1: Appointment and Role - Etherington will assist the local management team with market strategy, strengthen commercial and community banking relationships, and support the bank's growth in southwest Ohio [2] - His previous experience includes 17 years at CenterBank, now First Commonwealth Bank, where he held various leadership roles [1][3] Group 2: Leadership and Community Engagement - Etherington is recognized for his relationship-focused leadership, community engagement, and consistent performance, having driven commercial portfolio growth and supported local business development initiatives at his previous institution [3] - He expressed excitement about joining Republic Bank, highlighting the alignment of the bank's culture and community commitment with his values [4] Group 3: Company Overview - Republic Bancorp, Inc. is the parent company of Republic Bank & Trust Company, which operates 47 banking centers across five states [5] - As of September 30, 2025, the company had approximately $7.01 billion in total assets and is listed on the NASDAQ Global Select Market under the symbol "RBCAA" [5]

Core Viewpoint - Republic Bancorp (RBCAA) has been upgraded to a Zacks Rank 2 (Buy), reflecting an upward trend in earnings estimates, which significantly influences stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system tracks the Zacks Consensus Estimate, which is a measure of EPS estimates from sell-side analysts, for the current and following years [1]. - Changes in a company's future earnings potential, as indicated by earnings estimate revisions, are strongly correlated with near-term stock price movements [4]. - Institutional investors utilize earnings estimates to calculate the fair value of a company's shares, leading to stock price movements based on their buying or selling activities [4]. Business Outlook for Republic Bancorp - The upgrade in rating suggests an improvement in Republic Bancorp's underlying business, which should lead to an increase in stock price as investors respond positively [5]. - The Zacks Consensus Estimate for Republic Bancorp is projected at $6.85 per share for the fiscal year ending December 2025, with a 2.7% increase in estimates over the past three months [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a strong historical performance, particularly for Zacks Rank 1 stocks, which have generated an average annual return of +25% since 1988 [7]. - Republic Bancorp's upgrade to Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, indicating a strong potential for market-beating returns in the near term [10].

Financial Performance - Total Company net income for Q3 2025 was $29.7 million, an increase of $3.2 million, or 12%, compared to Q3 2024 [298]. - Diluted EPS increased 11% to $1.52 for Q3 2025 compared to $1.37 for the same period in 2024 [298]. - Total Company net income for the first nine months of 2025 was $108.5 million, a $26.1 million, or 32%, increase from the same period in 2024 [357]. - Diluted EPS increased 32% to $5.55 for the first nine months of 2025 compared to $4.24 for the same period in 2024 [357]. - Net income increased by $4.2 million, or 24%, for the first nine months of 2025 compared to the same period in 2024 [364]. Net Interest Income - Total Company net interest income increased by $5.7 million, or 8%, to $77.0 million in Q3 2025 compared to $71.3 million in Q3 2024 [308]. - Traditional Bank net interest income rose by $6.4 million, or 13%, to $57.4 million in Q3 2025 from $51.0 million in Q3 2024, driven by growth in average interest-earning assets and NIM expansion [309]. - Net interest income for the third quarter of 2025 was $76,970 thousand, up from $71,305 thousand in the third quarter of 2024, representing an increase of 8.73% [325]. - Total Company net interest income was $255.9 million during the first nine months of 2025, an increase of $19.1 million, or 8%, from the first nine months of 2024 [368]. - Traditional Bank net interest income increased by $17.9 million, or 12%, to $167.1 million for the first nine months of 2025 [369]. Loan Performance and Provisions - The Bank maintains an Allowance for Credit Losses on Loans (ACLL) for expected credit losses, which is evaluated monthly and discussed quarterly with the Audit Committee and Board of Directors [227]. - Provision for loan losses was a net charge of $4.0 million in Q3 2025, down from a net charge of $6.4 million in Q3 2024 [311]. - The total provision for credit losses was a net charge of $2.0 million in Q3 2025, significantly lower than the $5.7 million charge in Q3 2024, marking a decrease of 64.91% [329]. - The Traditional Banking segment recorded a net credit to the provision of $325,000 in Q3 2025, compared to a net charge of $1.5 million in Q3 2024, reflecting improved asset quality [330]. - The provision for credit losses decreased to $21.5 million in 2025 from $41.4 million in 2024, indicating a reduction of 48.00% [388]. Segment Performance - The Traditional Banking segment's performance is primarily driven by net interest income, which is the difference between interest income and fees on interest-earning assets and interest expense on interest-bearing liabilities [238]. - Traditional Banking segment net income increased $2.3 million, or 15%, from Q3 2024 to Q3 2025 [303]. - Republic Payment Solutions segment reported a decrease in noninterest income of $576,000, or 5%, from Q3 2024 to Q3 2025 [303]. - Republic Credit Solutions segment net income increased $72,000 from Q3 2024 to Q3 2025 [304]. - Tax Refund Solutions segment's net interest income decreased by $2.0 million, or 6%, from the first nine months of 2024 to the first nine months of 2025 [376]. Asset and Deposit Growth - Total assets increased to $6,991,878 thousand as of September 30, 2025, compared to $6,711,818 thousand in the same period of 2024, reflecting a growth of 4.16% [325]. - Total Traditional Bank deposits increased $337 million, or 7%, from December 31, 2024, to $4.91 billion as of September 30, 2025 [360]. - Average interest-bearing deposit balances grew by $260 million, or 7%, while the weighted-average cost of these deposits decreased from 2.77% in Q3 2024 to 2.32% in Q3 2025 [315]. Credit Quality - The RCS allowance for credit losses (ACLL) was 17.59% as of September 30, 2025, up from 15.70% a year earlier, reflecting a shift towards higher risk loan categories [341]. - Nonperforming loans to total loans for the RCS segment was 0.12% as of September 30, 2025, compared to 0.11% as of December 31, 2024 [364]. - Delinquent loans to total loans for the RCS segment decreased to 7.69% as of September 30, 2025, from 8.00% as of December 31, 2024 [364]. Tax Refund Solutions - The Bank's Tax Refund Solutions segment generates most of its revenue during the first half of the year, with RT revenue recognized immediately after the taxpayer's refund is disbursed [269][272]. - The ERA loan product allows taxpayers to borrow funds as an advance of their tax refund, with a maximum advance amount of $6,500 for the 2024 Tax Season [273]. - Total ERA/RA origination volume for the 2025 tax filing season totaled $802 million, representing a $72 million, or 8%, decline from $874 million originated for the 2024 tax filing season [361]. - RA origination volume totaled $663 million during the first nine months of 2025, a decrease from $771 million in the same period of 2024 [364].