Republic Bancorp, Inc. · NASDAQ:RBCAA
Republic Bancorp — Shareholder Meeting (April 2020)
16 slides from Republic Bancorp's shareholder meeting presentation, Apr 23, 2020
Slide 1: Annual Meeting of Shareholders April 23, 2020
Annual Meeting of Shareholders April 23, 2020
Slide 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 that these forwar
Slide 3: Steve Trager, Chairman and Chief Executive Officer
STEVE TRAGER Chairman and Chief Executive Officer 3
Slide 4: COVID-19 Response Summary
COVID-19 Response Summary • 03/09/20- The Coronavirus Response Team (CRT) was convened by the CEO with daily meetings thereafter • Priorities: • Health and well being of our associates and the communities we serve • Continuity of operations and ensuring client access • Providing clients support and
Slide 5: Health and Well Being
• Disbursed over 80% of workforce to work remotely • 03/23/20 – Limited lobby access to appointment only and shifted the bulk of client service to Interactive Teller Machines (ITMs) and Contact Center • Revised banking center and workplace cleaning protocol to ensure ongoing cleaning and supplies •
Slide 6: Continuity of Operations
• 03/02/20 - Activated Business Continuity and Planning Committee • 03/23/20- Redirected clients to ATM, ITM, night drop box, and Internet or Mobile Banking • Expanded ITM staffing by shifting branch personnel and diverting ITM and Contact Center staff to work from home • Ongoing communications to c
Slide 7: Client Support and Relief
• Processed over 2,100 Small Business Administration’s Paycheck Protection Program loans for $420 million since program initiated 4/3/20 • Granted payment deferrals for over 1,000 commercial clients with another 200 in process • Over 350 consumer mortgage deferrals completed or in process • Suspende
Slide 8: Financial Highlights
Financial Highlights Year ended December 31, 2019 and Quarter ended March 31, 2020 8
Slide 9: Financial Highlights
Year Ended Dec. 31, 2019 • Net Income = $91.7MM, up 18% • Diluted EPS(1) = $4.39 • ROA(2) = 1.64% • ROE(3) = 12.49% • Mortgage Banking income = $9.5MM, up 97% • $6.9MM in one-time after-tax benefits from branch divestiture Quarter Ended Mar. 31, 2020 • Net Income = $26.7MM, down 10% (COVID-19 impact
Slide 10: 1Q 2020 Highlights – Earnings Excluding COVID-19 Provision Build
(in thousands) 1Q2020 1Q2019 $ Change % Change EXCB (Non-GAAP) (1) $40,815 $36,976 $3,839 10% COVID-19 Provision Build (7,237) 0 (7,237) NM Pre-tax Net Income as Reported (GAAP) $33,578 $36,976 $(3,398) (9)% 10 1Q 2020 Highlights – Earnings Excluding COVID-19 Provision Build (EXCB), a Non-GAAP Measu
Slide 11: Balance Sheet
REPUBLIC BANK Balance Sheet
Slide 12: Balance Sheet
Dec. 31, 2019 • Cash = $385MM • Debt Securities = $534MM • Loans HFS(1) = $31MM • Loans HFI(2) = $4.4b • ACLL(3) = $43MM, 0.98%(4) • Goodwill = $16MM • Deposits = $3.8b • FHLB Advances = $750MM • Capital = $764MM Mar. 31, 2020 • Cash = $316MM • Debt Securities = $606MM • Loans HFS(1) = $55MM • Loans
Slide 13: Strong Capital Levels
Capital Ratio 12/31/2019 Republic Bancorp1 Peer2 Well Capitalized Minimum Requirement3 Tier 1 Leverage 13.93% 10.42% 5.00% CET 1 Risk Based 15.29% 13.27% 6.50% Tier 1 Risk Based 16.11% 13.29% 8.00% Total Risk Based 17.01% 14.21% 10.00% 13 Strong Capital Levels 1. The Company is still in the process
Slide 14: Cash Dividend 21-Year History
$0.09$0.10$0.12$0.15$0.17 $0.21 $0.25 $0.31 $0.36 $0.42 $0.47 $0.52 $0.56 $0.61 $0.65 $0.69 $0.74 $0.78 $0.83 $0.87 $0.97 $1.06 $1.14 $0.21 $1.10 $0.00 $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 $1.40 Cash Dividend Paid Regular Dividend Special Dividend 14 Cash Dividend 21-Year History *Regular dividend fo
Slide 15: REPUBLIC
REPUBLIC BANK
Slide 16: Thank You
REPUBLIC BANK Thank You