Republic Bancorp reports Q2 EPS $1.61, consensus $1.43

Logan Pichel, president and CEO of Republic Bank & Trust Company commented, “We are pleased to report strong second quarter operating results, highlighted by solid earnings metrics, Core Bank balance sheet expansion, robust capital levels and solid liquidity, and most importantly, continued favorably low loan charge-offs within our Core Bank. Our second quarter results benefited from our diversified earnings platform, with all five of our reporting segments posting strong results for the quarter. Within our Core Bank, our strategic pricing discipline continued to produce results – driving increased asset yields and cost of funds moderation. As a result, we achieved solid Core Bank Net Interest Margin expansion during the quarter, a feat that we are extremely proud of in a challenging interest rate environment. In addition to the strong financial results for the quarter, we also introduced our new branding initiative, tag line and marketing campaign during June that illustrates our unyielding commitment to our clients, Company, associates, and the communities we proudly serve. Republic Bank. Time to Thrive. perfectly encapsulates our mission, underscoring the importance of the community relationships the Bank has established, nurtured, and helped thrive since its founding,” Pichel concluded.