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Republic Bancorp Inc (RBCAA) SEC Filing 10-Q Quarterly report for the period ending Friday, March 31, 2017

Republic Bancorp Inc

CIK: 921557 Ticker: RBCAA

Exhibit 99.1

Republic Bancorp, Inc. Reports 13% Year-Over-Year Increase in First Quarter Net Income

LOUISVILLE, Ky.--(BUSINESS WIRE)--April 20, 2017--

Republic Bancorp, Inc. (NASDAQ: RBCAA), headquartered in Louisville, Kentucky, is the holding company of Republic Bank & Trust Company (the “Bank”).

Republic Bancorp, Inc. (“Republic” or the “Company”) is pleased to report first quarter net income of $20.0 million, a 13% increase over the first quarter of 2016, resulting in Diluted Earnings per Class A Common Share of $0.96. Return on average assets (“ROA”) and return on average equity (“ROE”) were 1.65% and 13.12%, respectively, for the first quarter of 2017.

Steve Trager, Republic’s Chairman and Chief Executive Officer, commented: “I am very excited to see the solid growth in our overall net income for the quarter, as we have made, and continue to make, significant investments in people and technology in order to advance our long-term strategic initiatives. As is typically the case during the first quarter of each year, the Tax Refund Solutions (“TRS”) division of our Republic Processing Group (“RPG”) made a proportionately significant contribution to net income for the quarter, as we completed the bulk of our tax season for 2017. In addition, the Republic Credit Solutions (“RCS”) division of RPG had another strong quarter, as well, contributing $1.3 million to RPG’s net income for the quarter.

“In addition to the solid net income at RPG, first quarter 2017 net income within our Warehouse Lending (“Warehouse”) segment grew 74% over the first quarter of 2016, driven by a significant year-over-year increase in average outstanding Warehouse loan balances combined with a higher net interest margin. The strong first quarter for the Warehouse segment helped to drive a 5% increase in the overall net income in our Core Banking operations, which also includes the results of our Traditional Banking and Mortgage Banking business segments. While overall net income within our Traditional Banking segment was slightly lower for the first quarter due primarily to the significant investment in staffing and infrastructure that we’ve made over the previous 12 months, we did achieve solid growth in net interest income, continued low loan losses and a solid increase in average loans and deposits for the quarter, as compared to the first quarter of 2016.”


The following information was filed by Republic Bancorp Inc (RBCAA) on Thursday, April 20, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statement Of Stockholders' Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
2016 Acquisition Of Cornerstone Bancorp, Inc.
2016 Acquisition Of Cornerstone Bancorp, Inc. (tables)
2016 Acquisition Of Cornerstone Bancorp, Inc. - Acquisition Summary (details)
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (policies)
Basis Of Presentation And Summary Of Significant Accounting Policies - Operations (details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Operations - Rpg (details)
Deposits
Deposits (details)
Deposits (tables)
Earnings Per Share
Earnings Per Share (details)
Earnings Per Share (tables)
Fair Value
Fair Value (tables)
Fair Value - Assets Measured On Non-recurring Basis (details)
Fair Value - Carrying Amounts And Fv Of Financial Instruments (details)
Fair Value - Gains And Losses (details)
Fair Value - Impaired Loans (details)
Fair Value - Non-recurring Level 3 Measurements (details)
Fair Value - Other Real Estate Owned (details)
Fair Value - Reconciliation Using Significant Unobservable Inputs (details)
Fair Value - Recurring Basis (details)
Fair Value - Recurring Level 3 Measurements (details)
Federal Home Loan Bank Advances
Federal Home Loan Bank Advances (tables)
Federal Home Loan Bank Advances - Fhlb Advances (details)
Federal Home Loan Bank Advances - Loans Pledged (details)
Federal Home Loan Bank Advances - Maturities (details)
Federal Home Loan Bank Advances - Short-term Fhlb Advances (details)
Interest Rate Swaps
Interest Rate Swaps (tables)
Interest Rate Swaps - Cash Flow Hedges (details)
Interest Rate Swaps - Gains (losses) (details)
Interest Rate Swaps - Interest Expense (details)
Interest Rate Swaps - Non-hedge (details)
Investment Securities
Investment Securities (tables)
Investment Securities - Afs (details)
Investment Securities - Amortized Cost And Fv (details)
Investment Securities - Htm (details)
Investment Securities - Investment Category (details)
Investment Securities - Pledged Investment Securities (details)
Investment Securities - Rollforward Of Credit Losses (details)
Investment Securities - Sales Of Afs (details)
Investment Securities - Trust Preferred Security (details)
Loans And Allowance For Loan And Lease Losses
Loans And Allowance For Loan And Lease Losses (tables)
Loans And Allowance For Loan And Lease Losses - Aging (details)
Loans And Allowance For Loan And Lease Losses - Allowance Activity (details)
Loans And Allowance For Loan And Lease Losses - Composition Of Loans (details)
Loans And Allowance For Loan And Lease Losses - Delinquent Loans (details)
Loans And Allowance For Loan And Lease Losses - Easy Advances (details)
Loans And Allowance For Loan And Lease Losses - Foreclosed Properties (details)
Loans And Allowance For Loan And Lease Losses - Foreclosure Recorded Investment (details)
Loans And Allowance For Loan And Lease Losses - Impaired Loans (details)
Loans And Allowance For Loan And Lease Losses - Loan Purchases (details)
Loans And Allowance For Loan And Lease Losses - Loans Evaluated For Impairment By Class Of Loans (details)
Loans And Allowance For Loan And Lease Losses - Non-performing Loans (details)
Loans And Allowance For Loan And Lease Losses - Pci Reconciliation Of Loans (details)
Loans And Allowance For Loan And Lease Losses - Portfolio Class (details)
Loans And Allowance For Loan And Lease Losses - Reconciliation Of Loans (details)
Loans And Allowance For Loan And Lease Losses - Risk Category (details)
Loans And Allowance For Loan And Lease Losses - Tdr Accrual Status (details)
Loans And Allowance For Loan And Lease Losses - Tdr Modifications (details)
Loans And Allowance For Loan And Lease Losses - Tdr Modified Class (details)
Loans Held For Sale
Loans Held For Sale (details)
Loans Held For Sale (tables)
Mortgage Banking Activities
Mortgage Banking Activities (tables)
Mortgage Banking Activities - Capitalized Mortgage Servicing Rights (details)
Mortgage Banking Activities - Components Of Income (details)
Mortgage Banking Activities - Mortgage Loans Held For Sale (details)
Mortgage Banking Activities - Notional Amounts And Fv (details)
Mortgage Banking Activities - Other Information Relating To Msrs (details)
Off Balance Sheet Risks, Commitments And Contingent Liabilities
Off Balance Sheet Risks, Commitments And Contingent Liabilities (details)
Off Balance Sheet Risks, Commitments And Contingent Liabilities (tables)
Other Comprehensive Income
Other Comprehensive Income (tables)
Other Comprehensive Income - Aoci Changes (details)
Other Comprehensive Income - Components (details)
Other Comprehensive Income - Reclassification (details)
Securities Sold Under Agreements To Repurchase And Other Short-term Borrowings
Securities Sold Under Agreements To Repurchase And Other Short-term Borrowings (details)
Securities Sold Under Agreements To Repurchase And Other Short-term Borrowings (tables)
Segment Information
Segment Information (details)
Segment Information (tables)
Stock Plans And Stock Based Compensation
Stock Plans And Stock Based Compensation (details)
Stock Plans And Stock Based Compensation (tables)
Ticker: RBCAA
CIK: 921557
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-17-004074
Submitted to the SEC: Wed May 10 2017 8:32:24 AM EST
Accepted by the SEC: Wed May 10 2017
Period: Friday, March 31, 2017
Industry: State Commercial Banks

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