Republic Bancorp Reports Solid First Quarter Results Highlighted by Strong Core Bank Net Interest Income Expansion

About this update from Republic Bancorp, Inc.

[{"type":"text","content":" LOUISVILLE, Ky.--(BUSINESS WIRE)--\nRepublic Bancorp, Inc. (“Republic” or the “Company”) reported first quarter 2026 net income and Diluted Earnings per Class A Common Share (“Diluted EPS”) of $42.6 million and $2.18 per share.\n\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260423516876/en/\nLogan Pichel, President and Chief Executive Officer of the Bank, commented, “We delivered a strong start to 2026, achieving net income of $42.6 million, due largely to the solid underlying performance of our Core Banking franchise. Strong Traditional Banking and Warehouse Lending results, combined with disciplined balance sheet management, net interest income growth, and continued net interest margin resilience, more than offset the expected headwinds associated with the nonrenewal of a large Tax Refund Solutions (“TRS”) Tax Provider contract. Comparability between the two first‑quarter periods was significantly impacted by several nonrecurring or infrequent items, both favorable and unfavorable. These items, net of income taxes, were as follows:\n\n\n\n(i)\n\n\na $4.4 million after-tax favorable impact from the 2026 gain on sale of Republic Bank Finance (“RBF”);\n\n\n\n\n\n\n\n(ii)\n\n\na $1.8 million after-tax unfavorable impact from a 2026 penalty incurred in connection with the strategic early payoff of long-term Federal Home Loan Bank (“FHLB”) advances;\n\n\n\n\n\n\n\n(iii)\n\n\na $8.4 million after-tax unfavorable impact in 2026 associated with the nonrenewal of a large TRS Tax Provider contract;\n\n\n\n\n\n\n\n(iv)\n\n\na $3.3 million after-tax unfavorable impact for a 2025 gain on sale of Visa Class B‑1 common shares;\n\n\n\n\n\n\n\n(v)\n\n\na $1.3 million after-tax unfavorable impact related to a 2025 insurance recovery; and\n\n\n\n\n\n\n\n(vi)\n\n\na $4.6 million after-tax favorable impact related to the 2025 core system deconversion and related consulting fees.”\n\n\n\n\n\n\n\nThe following table illustrates the Total Company(1), Core Bank, and Republic Processing Group (“RPG”) actual and adjusted net income (non-GAAP) results for the first quarters of 2026 and 2025. Adjusted net income reflects management’s internal view of the Company’s operating performance.\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n...

View stock analysis, news, and events for Republic Bancorp, Inc.