secwatch.observer — SEC 8-K summary
======================================

Issuer:     REPUBLIC BANCORP INC /KY/ (RBCAA)
CIK:        0000921557
Form:       8-K
Filed at:   2023-04-20T23:59:59+00:00
Accession:  0001157523-23-000584
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Republic Bancorp Q1 2023 operating net income rises 29% to $31.8M; Core Bank NIM 3.98%
--------------------------------------------------------------------------------

- Q1 2023 net income $28.1M ($1.42 diluted EPS flat YoY); operating net income (non-GAAP) $31.8M ($1.61 EPS) up 29%.
- Core Bank net income $10.3M, up 35% YoY; operating net income $14.0M, up 84% YoY. NIM expanded to 3.98% from 2.92%.
- Traditional Bank loan growth $92M (ex-CBank) in Q1; CBank acquisition added $218M in loans, closed March 15, 2023.
- TRS segment net income $12.4M, down from $15.4M due to prior year termination fee and higher RA provision of $21.7M on $737M originations.
- Credit quality stable: Core Bank nonperforming loans/total loans 0.34% (vs 0.40% prior year); allowance to loans 1.22%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/921557/000115752323000584/0001157523-23-000584-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/921557/000115752323000584/a53384187.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-000584

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer