Republic Bancorp reports Q4 EPS 98c vs. $1.01 last year

Reports Q4 net charge-offs .05%. Logan Pichel, president and CEO of Republic Bank & Trust Company commented, “We are pleased to report another strong performance for the fourth quarter, particularly within our Core Bank, as its net income increased 11% over the fourth quarter of 2023. Our Core Bank includes the operations of our Traditional Bank and Warehouse Lending, whose combined assets represent approximately 90% of the Company’s total assets. The growth in our Core Bank net income primarily resulted from a $7.0 million increase in net interest income, which was driven by strong growth in our net interest margin (“NIM”) from 3.40% for the fourth quarter of 2023 to 3.64% for the fourth quarter of 2024. The growth in our quarterly NIM reflected the success of a strong interest rate risk management function, combined with solid growth in our core deposits, and on-going pricing discipline for our new loan originations.”