Republic Bancorp Q1 net income up 9% to $30.6M; diluted EPS $1.58 (+11% YoY)

REPUBLIC BANCORP INC /KY/

Core Bank NII fell 3% to $50.5M; NIM contracted to 3.30% from 3.98% as funding costs rose.
RPG net income $17.5M vs $17.8M; TRS net income down on higher provision, RCS up 14% to $6.1M.
Core Bank noninterest expense flat ex merger costs at $42.3M; provision expense declined to $0.7M from $3.1M.
Traditional Bank avg loans grew 18% YoY to $4.6B; spot loans down 1% QTD reflecting pricing discipline.
Core Bank NPAs remain low at 0.41% of loans; net charge-offs annualized 0.01%.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

REPUBLIC BANCORP INC /KY/ reported the quarter ended March 31, 2024 results: net income $30.6 million, EPS $1.58 per share.

Period: the quarter ended March 31, 2024
Net income: $30.6 million
EPS: $1.58 per share
Result: reported results

Exact text from the filing

Republic Bancorp, Inc. Reports First Quarter 2024 Net Income of $30.6 Million

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Source: SEC EDGAR

accession 0001558370-24-005685

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