Business
Republic Bancorp, Inc. Reports Second Quarter 2023 Net Income of $21.1 Million
LOUISVILLE, Ky.--(BUSINESS WIRE)-- Republic Bancorp, Inc. (NASDAQ: RBCAA), headquartered in Louisville, Kentucky, is the holding company of Republic Bank &
About this update from Republic Bancorp, Inc.
[{"type":"text","content":" LOUISVILLE, Ky.--(BUSINESS WIRE)--\nRepublic Bancorp, Inc. (NASDAQ: RBCAA), headquartered in Louisville, Kentucky, is the holding company of Republic Bank & Trust Company (the “Bank”).\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230721204384/en/\nRepublic Bancorp, Inc. (“Republic” or the “Company”) reported second quarter 2023 net income and Diluted Earnings per Class A Common Share (“Diluted EPS”) of $21.1 million and $1.07 per share compared to $24.3 million and $1.22 per share for the second quarter of 2022. Adjusting for the infrequent items noted in the table below that are not considered to be part of the Company’s normal recurring operations, the most notable of which being a substantial legal settlement that positively impacted net income for the second quarter of 2022, Republic’s Total Company Operating net income (a non-GAAP metric) was $19.8 million for the second quarter of 2023, an increase of $5.0 million, or 34%, over its Total Company Operating net income for the second quarter of 2022.\n\n\nThe following table reconciles Republic’s Total Company GAAP and non-GAAP net incomes as described in the paragraph above.\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nDiluted Earnings Per Class A Common Share\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nThree Months Ended\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nThree Months Ended\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\n(dollars in thousands, except per share data)\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\nJun. 30,\n\n\n\n\n2023\n\n\n\n\n\n\n \n\n\n\n\n\n\nJun. 30, 2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\nChange\n\n\n\n\n\n\n \n\n\n...