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Republic Bancorp Inc (RBCAA) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Republic Bancorp Inc

CIK: 921557 Ticker: RBCAA

Exhibit 99.1

Republic Bancorp, Inc. Reports a 22% Year-Over-Year Increase in Fourth Quarter Pre-Tax Net Income

LOUISVILLE, Ky.--(BUSINESS WIRE)--January 25, 2019--

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 fourth quarter net income of $17.3 million, a 258% increase over the fourth quarter of 2017, resulting in Diluted Earnings per Class A Common Share (“Diluted EPS”) of $0.83. Year-to-date net income was $77.9 million, a $32.2 million, or 71%, increase from the same period in 2017, resulting in a return on average assets (“ROA”) and a return on average equity (“ROE”) of 1.52% and 11.67% for 2018.

Steve Trager, Chairman & CEO of Republic commented, “With the change in the tax law during 2018 playing such a large role in the comparability of our quarterly and year-over-year net income metrics, we have focused the benchmarks for our 2018 results using pre-tax net income, as we believe this is more reflective of the true operating performance of the Company on a comparable basis. I am excited about these results, as we were able to grow our pre-tax net income to $20.3 million for the fourth quarter of 2018, an increase of 22% over the fourth quarter of 2017. In addition, pre-tax net income for the year ended December 31, 2018 increased $15.9 million, or 20%, over the year ended December 31, 2017. A healthy expansion in our net interest margin was the primary driver for the increase in our net interest income and our solid year-over-year performance, despite less growth in our Core Bank loan portfolio than the recent past. We were able to achieve these results in our net interest margin thanks to our strong balance sheet management strategies and continued success in maintaining our noninterest-bearing deposit base.

“Looking ahead to 2019, an increase in short-term interest rates, a continued flattening of the yield curve, and stiff competition for lower-cost core deposits are all expected in the market for the coming year. We believe these projected headwinds will be a stern challenge for all in the banking industry. We further believe, however, that we are well positioned to face these challenges thanks to a strong management team and our 1,000+ dedicated associates that are willing to go the extra mile each and every day, in our efforts to make Republic one of the best performing banks in the industry,” concluded Steve Trager.


The following information was filed by Republic Bancorp Inc (RBCAA) on Friday, January 25, 2019 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Republic Bancorp Inc's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Stockholders' Equity
Consolidated Statement Of Stockholders' Equity (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Benefit Plans
Benefit Plans (Details)
Benefit Plans (Tables)
Deposits
Deposits (Tables)
Deposits - Balances (Details)
Deposits - Maturities (Details)
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 - Consumer Loans Held For Sale (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 - Policies (Details)
Fair Value - Premises And Equipment (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)
Goodwill And Core Deposit Intangible Assets
Goodwill And Core Deposit Intangible Assets (Tables)
Goodwill And Core Deposit Intangible Assets - Goodwill (Details)
Goodwill And Core Deposit Intangible Assets - Intangibles (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Deferred Taxes And Operating Loss Carryforward (Details)
Income Taxes - Low Income Housing Tax Credits (Details)
Income Taxes - Provision (Details)
Income Taxes - Unrecognized Tax Benefits (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 - Corporate Bonds And Mortgage Backed Securities (Details)
Investment Securities - Equity Securities (Details)
Investment Securities - Freddie Mac Preferred Stock (Details)
Investment Securities - Htm (Details)
Investment Securities - Investment Category (Details)
Investment Securities - Other Than Temporary Impairment (Details)
Investment Securities - Pledged Debt Securities (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 - 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 - Recorded Investment (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 - Amortization Expense Of Msr Portfolio (Details)
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)
Parent Company Condensed Financial Information
Parent Company Condensed Financial Information (Tables)
Parent Company Condensed Financial Information - Assets (Details)
Parent Company Condensed Financial Information - Cash Flows (Details)
Parent Company Condensed Financial Information - Income And Comprehensive Income (Details)
Premises And Equipment
Premises And Equipment (Details)
Premises And Equipment (Tables)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Details)
Revenue From Contracts With Customers (Tables)
Securities Sold Under Agreements To Repurchase
Securities Sold Under Agreements To Repurchase (Details)
Securities Sold Under Agreements To Repurchase (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)
Stock Plans And Stock Based Compensation - Activity (Details)
Stock Plans And Stock Based Compensation - Deferred Compensation (Details)
Stock Plans And Stock Based Compensation - Employee Stock Purchase Plan (Details)
Stock Plans And Stock Based Compensation - Key- Employee Deferred Compensation Expense (Details)
Stockholders' Equity And Regulatory Capital Matters
Stockholders' Equity And Regulatory Capital Matters (Tables)
Stockholders' Equity And Regulatory Capital Matters - Equity (Details)
Stockholders' Equity And Regulatory Capital Matters - Regulatory (Details)
Subordinated Note
Subordinated Note (Details)
Summary Of Quarterly Financial Data (Unaudited)
Summary Of Quarterly Financial Data (Unaudited) (Details)
Summary Of Quarterly Financial Data (Unaudited) (Tables)
Summary Of Quarterly Financial Data (Unaudited) - Additional Disclosures (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Additional Disclosures (Details)
Summary Of Significant Accounting Policies - Asus (Details)
Summary Of Significant Accounting Policies - Concentration (Details)
Summary Of Significant Accounting Policies - Credit Solutions And Oreo (Details)
Summary Of Significant Accounting Policies - Intangibles (Details)
Summary Of Significant Accounting Policies - Loans (Details)
Summary Of Significant Accounting Policies - Operations (Details)
Summary Of Significant Accounting Policies - Premises And Equipment (Details)
Summary Of Significant Accounting Policies - Segments (Details)
Transactions With Related Parties And Their Affiliates
Transactions With Related Parties And Their Affiliates (Details)
Transactions With Related Parties And Their Affiliates (Tables)
Ticker: RBCAA
CIK: 921557
Form Type: 10-K Annual Report
Accession Number: 0001558370-19-002088
Submitted to the SEC: Fri Mar 15 2019 4:39:25 AM EST
Accepted by the SEC: Fri Mar 15 2019
Period: Monday, December 31, 2018
Industry: State Commercial Banks

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