secwatch.observer — SEC 8-K summary
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Issuer:     REPUBLIC BANCORP INC /KY/ (RBCAA)
CIK:        0000921557
Form:       8-K
Filed at:   2023-07-21T23:59:59+00:00
Accession:  0001157523-23-001122
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Republic Bancorp Q2 2023 op net income up 34% to $19.8M; GAAP net income $21.1M ($1.07 EPS)
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- GAAP net income $21.1M ($1.07 diluted EPS) vs $24.3M ($1.22) in Q2 2022; non-GAAP operating net income $19.8M, up 34% YoY.
- Core Bank net income $12.1M, up 43% GAAP; net interest income $51.4M, up 19%; net interest margin expanded 63 bps to 3.65%.
- Traditional Bank average loans $4.28B, +18% YoY; weighted-average loan yield 4.98% vs 3.92% in prior year.
- Provision for credit losses was a $2.1M charge; Core Bank allowance-to-loans 1.15%; nonperforming loans to total loans 0.34%.
- RPG adjusted net income $8.9M (excluding prior-year legal settlement) vs $6.2M; prepaid card product drove net interest income growth.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/921557/000115752323001122/0001157523-23-001122-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/921557/000115752323001122/a53470983.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-001122

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