Republic Bancorp sells $80M RBF loan portfolio to CAN Capital; expects $6M gain

REPUBLIC BANCORP INC /KY/

Asset purchase agreement with CAN Capital Merchant Services for substantially all RBF assets: ~$80M loans/leases and ~$3M liabilities.
Bank expects to record a gain, net of broker commissions, of approximately $6 million.
Transaction includes a fixed premium above net book value; CAN assumes all ongoing RBF operations.
Closing expected in Q1 2026, subject to customary conditions and CAN obtaining financing.
RBF is a small-ticket finance division acquired in March 2023 CBank deal; based in St. Louis.

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