REPUBLIC BANCORP INC /KY/ SEC 10-Q Report

Republic Bancorp Inc., a diversified financial services company headquartered in Louisville, Kentucky, has released its Form 10-Q report for the third quarter of 2025. The report highlights the company's financial performance and operational achievements, reflecting its strategic focus on core banking operations and diversified revenue streams.

Financial Highlights

Republic Bancorp Inc. reported strong financial performance for the three months ended September 30, 2025, with key metrics indicating growth and improved profitability:

• Total Interest Income: $103.2 million, up from $101.5 million in the same period of 2024, driven by higher income from taxable investment securities.
• Total Interest Expense: $26.3 million, a decrease from $30.2 million in the same period of 2024, primarily due to lower deposit costs.
• Net Interest Income: $77.0 million, an increase from $71.3 million in the same period of 2024, benefiting from reduced interest expenses.
• Net Income: $29.7 million, up from $26.5 million in the same period of 2024, reflecting improved profitability.
• Basic Earnings Per Share - Class A Common Stock: $1.53, compared to $1.37 in the same period of 2024.
• Basic Earnings Per Share - Class B Common Stock: $1.39, up from $1.25 in the same period of 2024.
• Diluted Earnings Per Share - Class A Common Stock: $1.52, compared to $1.37 in the same period of 2024.
• Diluted Earnings Per Share - Class B Common Stock: $1.39, up from $1.24 in the same period of 2024.

Business Highlights

Republic Bancorp Inc. continues to strengthen its core banking operations while diversifying its revenue streams through various business segments:

• Core Banking Operations: The Core Bank, comprising Traditional Banking and Warehouse Lending segments, remains a significant part of the company's operations. Traditional Banking offers a wide range of products primarily in Kentucky, Indiana, Florida, Ohio, and Tennessee, with 47 full-service banking centers. The Warehouse Lending segment provides short-term, revolving credit facilities to mortgage bankers across the U.S., secured by single-family residential real estate loans.
• Republic Processing Group (RPG) Segments: The RPG consists of Tax Refund Solutions (TRS), Republic Payment Solutions (RPS), and Republic Credit Solutions (RCS). TRS facilitates tax refund products and offers credit products through third-party tax preparers. RPS provides payment-related products and services, including prepaid and debit solutions, while RCS offers consumer credit products, primarily unsecured, small-dollar loans.
• Geographical Performance: The company operates primarily in Kentucky, with additional banking centers in Indiana, Florida, Ohio, and Tennessee. The headquarters are located in Louisville, Kentucky, which is the largest city in the state.
• Product Offerings and Services: The Traditional Banking segment provides investment securities, commercial and consumer loans, and other banking services. The Warehouse Lending segment supports mortgage bankers with credit facilities. TRS offers refund transfers and refund advances, while RPS provides prepaid and debit card solutions. RCS focuses on unsecured consumer loans.
• Future Outlook: Management continues to focus on expanding the reach of non-brick-and-mortar delivery channels to serve clients across the U.S. The company is also adapting its product parameters in response to changes in the legal, regulatory, and competitive environment, particularly for the ERA/RA products.
• Operational Strategy: The company emphasizes its Core Bank operations as a foundation for growth, while leveraging the RPG segments to diversify its revenue streams. The focus remains on maintaining a strong presence in its geographical markets while expanding its non-traditional banking services.

SEC Filing: REPUBLIC BANCORP INC /KY/ [ RBCAA ] - 10-Q - Nov. 06, 2025