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Republic Bancorp Inc (RBCAA) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

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RBCAA Quarterly Reports

Republic Bancorp Inc

CIK: 921557 Ticker: RBCAA
Exhibit 99.1


Republic Bancorp, Inc. Reports First Quarter Net Income of $26.7 Million Amid COVID-19 Considerations

LOUISVILLE, Ky.--(BUSINESS WIRE)--April 23, 2020--

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”) reports net income of $26.7 million for the first quarter of 2020, resulting in Diluted Earnings per Class A Common Share (“Diluted EPS”) of $1.28, return on average assets (“ROA”) of 1.90%, and return on average equity (“ROE”) of 13.71%. Net income was down 10% from the first quarter of 2019 primarily as a result of an increase in the Company’s estimated Allowance for Credit Losses in response to the potential impact of the COVID-19 pandemic.

Steve Trager, Chairman & CEO of Republic commented, “While we are proud of many of our operating metrics for the quarter, certainly the last month of the quarter was primarily focused on the impact of the COVID-19 pandemic and our corporate response to it. In that regard, our primary focus in response to the pandemic has been:

(1) safeguarding the health of our associates and our clients;

(2) cushioning our clients from the pandemic’s negative economic impact;

(3) mitigating our risk of loss; and

(4) measuring, forecasting and planning for the negative financial impact of the pandemic on a go-forward basis.

“With respect to safeguarding of our associates and our clients, we quickly and successfully enacted a social distancing protocol, which allowed the substantial majority of our back-office operations to work from home. For those personnel not able to work from home, we have physically distanced these associates from each other within our office space. Within our banking centers, we changed our in-person client service hours to be by appointment-only in order to limit the number of people within the banking centers at any point in time. In addition, we diverted much of our client service interaction to our drive-thru operations, with many of our drive-thru transactions facilitated through interactive teller machines (“ITMs”).


The following information was filed by Republic Bancorp Inc (RBCAA) on Thursday, April 23, 2020 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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Republic Bancorp Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2020 10-K Annual Report includes:

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Inside Republic Bancorp Inc's 10-Q Quarterly Report:

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 Statement Of Stockholders' Equity (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
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 (Tables)
Basis Of Presentation And Summary Of Significant Accounting Policies - Asus (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Impact Of Asc 326 Adoption (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Operations (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies - Segments (Details)
Deposits
Deposits (Tables)
Deposits - Balances (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 - Gains And Losses (Details)
Fair Value - Impaired Loans (Details)
Fair Value - Non-Recurring Level 3 Measurements (Details)
Fair Value - Policies (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 - Acls Rollforward (Details)
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 - 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 Credit Losses - Allowance Activity (Details)
Loans And Allowance For Credit Losses - Collateral Dependent Loans (Details)
Loans And Allowance For Credit Losses - Composition Of Loans (Details)
Loans And Allowance For Credit Losses - Delinquent Loans (Details)
Loans And Allowance For Credit Losses - Easy Advances (Details)
Loans And Allowance For Credit Losses - Foreclosed Properties (Details)
Loans And Allowance For Credit Losses - Foreclosure Recorded Investment (Details)
Loans And Allowance For Credit Losses - Impaired Loans (Details)
Loans And Allowance For Credit Losses - Loans Evaluated For Impairment By Class Of Loans (Details)
Loans And Allowance For Credit Losses - Non-Performing Loans (Details)
Loans And Allowance For Credit Losses - Nonaccrual (Details)
Loans And Allowance For Credit Losses - Portfolio Class (Details)
Loans And Allowance For Credit Losses - Reconciliation Of Loans (Details)
Loans And Allowance For Credit Losses - Risk Category (Details)
Loans And Allowance For Credit Losses - Tdr Accrual Status (Details)
Loans And Allowance For Credit Losses - Tdr Modifications (Details)
Loans And Allowance For Credit Losses - Tdr Modified Class (Details)
Loans And Allowance For Loan And Lease Losses
Loans And Allowance For Loan And Lease Losses (Tables)
Loans Held For Sale
Loans Held For Sale (Tables)
Loans Held For Sale - Consumer Loans - Held For Sale (Details)
Loans Held For Sale - Consumer Loans - Lower Cost (Details)
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)
Mortgage Banking Activities - Valuation Of Capitalized Mortgage Servicing Rights (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)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Details)
Revenue From Contracts With Customers (Tables)
Right-Of-Use Assets And Operating Lease Liabilities
Right-Of-Use Assets And Operating Lease Liabilities (Details)
Right-Of-Use Assets And Operating Lease Liabilities (Tables)
Right-Of-Use Assets And Operating Lease Liabilities - Operating Lease Expense (Details)
Right-Of-Use Assets And Operating Lease Liabilities - Operating Lease Liabilities (Details)
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)
Subsequent Events
Subsequent Events (Details)
Subsequent Events (Tables)

Material Contracts, Statements, Certifications & more

Republic Bancorp Inc provided additional information to their SEC Filing as exhibits

Ticker: RBCAA
CIK: 921557
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-20-005902
Submitted to the SEC: Fri May 08 2020 9:33:36 AM EST
Accepted by the SEC: Fri May 08 2020
Period: Tuesday, March 31, 2020
Industry: State Commercial Banks

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