Republic Bancorp, Inc. · NASDAQ:RBCAA
Republic Bancorp — Shareholder Meeting (April 2014)
32 slides from Republic Bancorp's shareholder meeting presentation, Apr 24, 2014
Slide 1: Annual Meeting of Shareholders
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Slide 2: Steve Trager, Chairman and Chief Executive Officer
Steve Trager Chairman and Chief Executive Officer 3
Slide 3: Highlights Year ended December 31, 2013
Highlights Year ended December 31, 2013 4
Slide 4: Republic Bank Banking Centers
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Slide 5: Stock Overview
Stock Overview 6 1998 – IPO completed 2.6 million shares issued (adjusted) NASDAQ Symbol RBCAA Shares Outstanding – 12/31/13 20.8 million Market Capitalization – 12/31/13 510 million Average Daily Volume 31,758 shares (trailing 12 months at 12/31/13) Stock Price – 12/31/13 $24.54 Stock Price - 12/31
Slide 6: Ten Year Total Returns
7 Ten Year Total Returns 12/31/03 - 12/31/13* *Gross dividends assumed to be reinvested into Company stock or the applicable index
Slide 7: 2013 Highlights
2013 Highlights Annual net income of $25.4 million resulting in Diluted Earnings per Class A Common share of $1.22 Return On Average Assets (“ROA”) of 0.75% Return On Average Equity (“ROE”) of 4.65% Ranked FIRST out of all publicly traded financials institutions based on a combined ranking of 2012 c
Slide 8: 2013 Highlights (continued)
2013 Highlights (continued) Capital ratios continued to exceed “well capitalized” with a total risk based capital ratio of 26.71% at year end Traditional Banking credit metrics continued to outperform peers Mortgage Warehouse loan portfolio at $150M Grew core deposit balances $61M Increased quarterl
Slide 9: Outstanding Compounded Annual Growth Rates
Outstanding Compounded Annual Growth Rates 10 As of December 31, 2013 10-Year Compound Annual Growth Rate 3-Year Compound Annual Growth Rate Stock Price 4.3% 1.1% Annual Cash Dividends (Class A) 5.2% 7.3% Book Value Per Share 12.3% 13.7%
Slide 10: Net Income and Earnings Per Share
Net Income and Earnings Per Share 11
Slide 11: Net Interest Income – Traditional Banking Segment
Net Interest Income – Traditional Banking Segment 12
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Slide 13: Strong Capital Foundation
Strong Capital Foundation 14 (1) Peer Data obtained from the December 31, 2013 Uniform Bank Performance Report (“UBPR”) 26.71% 25.67% 16.81% Bancorp Republic 12/31/2013 Capital Ratio Tier 1 Leverage Tier 1 Risk Based Total Risk Based Well Capitalized Peer (1) Requirement 9.86% 5.00% 13.43% 6.00% 14.
Slide 14: Loan Portfolio Highlights
15 Highlights Loan Portfolio Total Loans: $2.6 Billion Industry leading credit quality 92% of loans in Kentucky, southern Indiana, and Florida market footprint Diversification between retail and commercial lending Focus on segments where high touch service matters Locally owned business In-market in
Slide 15: 2013 Core Deposits - Quarterly Averages
16 2013 Core Deposits - Quarterly Averages (excludes Institutional Brokered Deposits & CDs) Now & Passbook Savings Quarter Ended Quarter Ended (in thousands) Dec 31, 2013 Dec 31, 2012 Change Non Interest Bearing 505,115 $ 521,188 $ (16,073) $ Now & Passbook Sav ings 725,398 619,107 106,291 Money Mar
Slide 16: Deposit Mix – December 31, 2013
17 4th Qtr 2013 Traditional Bank Cost of Deposits: 0.20% Deposit Mix – December 31, 2013 Excluding Deposits Associated with RPG Total Deposits: $2.0 Billion
Slide 17: Deposit Market Share – Jefferson County, Kentucky
Deposit Market Share – Jefferson County, Kentucky 18 Source: SNL Financial (Data as of 6/30/13) 21 FDIC Insured Institutions - $16.5 Billion Total Deposits
Slide 18: Industry Strong Credit Quality
Industry Strong Credit Quality 19
Slide 19: Credit Quality Trends – Traditional Banking
20 Credit Quality Trends – Traditional Banking (includes acquisitions)
Slide 20: Non Performing Loans To Total Loans
Non Performing Loans To Total Loans 21 (1) Peer Data obtained from December 31, 2013 Uniform Bank Performance Report (“UBPR”)
Slide 21: Delinquent Loans To Total Loans
Delinquent Loans To Total Loans 22
Slide 22: Net Loan Charge Offs To Average Loans
Net Loan Charge Offs To Average Loans (Traditional Banking Segment) 23 (1) Peer Data obtained from December 31, 2013 Uniform Bank Performance Report (“UBPR”)
Slide 23: Highlights First Quarter 2014
Highlights First Quarter 2014 24
Slide 24: 1Q 2014 Highlights
1Q 2014 Highlights Net income of $12.0 million Return On Average Assets (“ROA”) of 1.34% Return On Average Equity (“ROE”) of 8.69% Capital ratios continued to exceed “well capitalized” with a total risk based capital ratio exceeding 26% Credit metrics continued to outperform peers 25
Slide 25: 1Q 2014 Highlights - RPG
1Q 2014 Highlights - RPG Over $6 billion of state and federal electronic tax refunds processed, a 77% increase from 2013 Over $66 million loaded onto prepaid cards $4 million in gross loans outstanding for pilot RCS programs 26
Slide 26: Net Income and Earnings Per Share
Net Income and Earnings Per Share 27
Slide 27: Gross Loans – Core Bank
Gross Loans – Core Bank 28 $2,587 In Millions
Slide 28: Asset Quality – 3/31/14 Traditional Banking Segment
Asset Quality – 3/31/14 Traditional Banking Segment 29 (1) Peer Data obtained from December 31, 2013 Uniform Bank Performance Report (“UBPR”) Republic Peer (1) Non-performing loans to total loans 0.93% 1.46% Delinquent loans (30-89 days) to total loans 0.16% 0.59%
Slide 29: Republic Bancorp
REPUBLIC BANCORP. ‘Annual Meeting of Shareholders + Thursday, April 24; 2014 ”
Slide 30: Initiatives
Initiatives Bank acquisitions; either purchase or FDIC-assisted Grow traditional loan portfolios – commercial and retail loans Grow product lines – Correspondent Lending and Warehouse Lending Expand new lines of business – Prepaid Cards, Short-term credit products. Add strategically located banking
Slide 31: We were here for you yesterday
3 : REPUBLIC BANCORP. We were here for you yesterday. We are here for you today. We will be here for you tomorrow.” Annual Meeting of Shareholders + Thursday, April 24; 2014 so
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