Republic Bancorp, Inc. · NASDAQ:RBCAA
Republic Bancorp — Annual Global Investment Conference 2010
32 slides from Republic Bancorp's conference presentation, Sep 13, 2010
Slide 1: Annual Global Investment Conference
1 Monday, September 13, 2010 Annual Global Investment Conference REPUBLIC BANCORPTM
Slide 2: Safe Harbor
2 Safe Harbor During the course of this presentation, we will be providing you with a discussion of some of the factors we currently anticipate may influence the future results of Republic Bancorp, Inc. (“Republic” or the “Company”), as well as certain financial projections. We want to emphasize tha
Slide 3: Steve Trager, President and Chief Executive Officer
3 Steve Trager President and Chief Executive Officer
Slide 4: Stock Overview
4 Stock Overview 1998 – IPO completed 2.14 million shares issued NASDAQ Symbol RBCAA Shares Outstanding 20.9 million at 6/30/10 Market Capitalization $409.8 million at 8/27/10 Stock Price 12/31/09 $20.60 Stock Price 8/27/10 $19.60 Book Value Per Share $17.54 at 6/30/10 Average Daily Volume 54,700 sh
Slide 5: Company Profile
5 Company Profile Second largest Kentucky based bank holding company with total assets of $3.1 billion at 6/30/10 Holding Company for Republic Bank & Trust Company and Republic Bank (Florida) 44 locations in KY, IN, OH and FL Operating Segments Traditional banking Mortgage banking Tax Refund Solutio
Slide 6: Banking Market Overview
6 Banking Market Overview Banking Center Locations: Kentucky – 35 Louisville – 20 Central / Western – 12 Northern – 3 Ohio – 1 Indiana – 3 (continued)
Slide 7: Banking Market Overview: Florida
7 Banking Market Overview Florida Metropolitan Tampa – 5 Acquired in October 2006 Currently $122 million in total assets
Slide 8: Highlights Six Months ended June 30, 2010
8 Highlights Six Months ended June 30, 2010
Slide 9: Highlights YTD – June 30, 2010
9 Highlights YTD – June 30, 2010 Total net income of $53.0 million, a 63% increase over first six months of 2009 Return On Average Assets (“ROA”) of 2.80% Return On Average Equity (“ROE”) of 30.15% Core Banking low cost deposit balances increased $105 million Traditional Bank Net Interest Margin of
Slide 10: Year Total Return Analysis
10 10 Year Total Return Analysis *07/01/00 – 06/30/10 * - gross dividends assumed reinvested
Slide 11: Outstanding Record of Growth – As of June 30, 2010
11 Outstanding Record of Growth – As of June 30, 2010 5-Year Compound Annual Growth Rate 3-Year Compound Annual Growth Rate YTD Diluted EPS 27.00% 58.48% Quarterly Cash Dividends (Class A) 13.47% 10.93% Stock Price 2.61% 10.53% Book Value Per Share 12.46% 15.80%
Slide 12: YTD Diluted Earnings Per Class A Common Stock
13 YTD Diluted Earnings Per Class A Common Stock 58.48% three year diluted EPS compound annual growth rate
Slide 13: Balance Sheet
| Reendtaw Balance Sheet 7
Slide 14: Capital Foundation
15 Capital Foundation Republic Well Bancorp Capitalized 06/30/10 12/31/09 Requirement Tier 1 Leverage 12.35% 10.52% 5.00% Tier 1 Risk Based 20.27% 17.25% 6.00% Total Risk Based 21.52% 18.37% 10.00%
Slide 15: Lending Strategy – June 30, 2010 Highlights
16 Lending Strategy – June 30, 2010 Highlights Loan Portfolio Total Loans: $2.2 Billion Industry leading credit quality 98% of loans in Kentucky and Southern Indiana market footprint Diversification between Retail and Commercial Focus on segments where high touch service matters Locally owned busine
Slide 16: 2010 Core Deposits
17 2010 Core Deposits (excludes Institutional Brokered Deposits & CDs) As of As of YTD (in thousands) Jun 30, 2010 Dec 31, 2009 Change NON-INT BEARING DEPOSITS 337,213 $ 314,028 $ 23,185 $ NOW & PASSBOOK SAVINGS 301,292 268,705 32,587 MONEY MARKET & SUPER NOW 567,355 526,230 41,125 LIQUID CD'S 17,63
Slide 17: Deposit Mix and Cost of Deposits
18 2nd Qtr 2010 Traditional Bank Cost of Deposits: 0.86% Deposit Mix – June 30, 2010 Total Deposits: $1.8 Billion
Slide 18: Deposit Market Share – Jefferson County, Kentucky
19 Deposit Market Share – Jefferson County, Kentucky 27 FDIC Insured Institutions. $16.4 Billion Total Deposits Source: FDIC Summary of Deposits. Data as of 6/30/09
Slide 19: Deposit Market Share – Kentucky
20 Deposit Market Share – Kentucky 231 FDIC Insured Institutions. $68.7 Billion Total Deposits Source: FDIC Summary of Deposits. Data as of 6/30/09
Slide 20: Strong Credit Quality
21 Industry Strong Credit Quality
Slide 21: Credit Quality Trends - Traditional Banking
22 Credit Quality Trends - Traditional Banking As of and for the Quarter Ended Ratio 12/31/08 3/31/09 6/30/09 9/30/09 12/31/09 3/31/10 6/30/10 Non Performing Loans/ Total Loans 0.58% 1.06% 1.37% 1.76% 1.90% 1.78% 1.71% Non Performing Assets/ Total Assets 0.69% 0.93% 1.10% 1.44% 1.60% 1.46% 1.40% All
Slide 22: Net Loan Charge Offs To Average Loans
23 Net Loan Charge Offs (Traditional Banking Segment) To Average Loans Peer Data obtained from Uniform Bank Performance Report (“UBPR”).
Slide 23: Non Performing Loans To Total Loans
24 Non Performing Loans To Total Loans Peer Data obtained from UBPR.
Slide 24: Delinquent Loans To Total Loans
25 Delinquent Loans To Total Loans
Slide 25: Results of Operations
| ae | Results of Operations |
Slide 26: YTD Net Interest Income – Traditional Banking Segment
27 YTD Net Interest Income – Traditional Banking Segment
Slide 27: YTD Non Interest Income as a % of Total Revenue
28 YTD Non Interest Income as a % of Total Revenue Strong service charges on deposits Significant TRS and mortgage banking contribution
Slide 28: 2010 Tax Season Overview
29 2.8 million customers $10.6 billion of state and federal electronic tax refunds processed 30% increase in the amount of refunds processed 837,000 Refund Anticipation Loans (“RALs”) $3.0 billion of RALs processed Uncollected RALs of 0.48% for the tax season 26 %/74% - RAL / Electronic Refund Check
Slide 29: Growth Initiatives – Strategies/Strategic
30 Growth Initiatives – Strategies/Strategic Acquire a failed financial institution Secondary market lending Attract customers leaving troubled institutions looking for safety and soundness Add strategically located banking centers and make selective acquisitions Outperform peer financial performanc
Slide 30: 2010 Challenges & Opportunities
31 2010 Challenges & Opportunities Challenges New Regulation E requirements Ongoing regulatory dialogue regarding the TRS business New underwriting/pricing model for TRS to compensate for the elimination of the “Debt Indicator” by the IRS Improving net interest margin by capitalizing on low cost dep
Slide 31: We were here for you yesterday. We are here for you today. We will
32 We were here for you yesterday. We are here for you today. We will be here for you tomorrow. ®
Slide 32: Thank You
| ae | ( THANK YOU
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