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Mar 31, 2022
Republic Bancorp Q1 2022 Earnings Report
Net income increased by 7% to $27.9 million and EPS was $1.40.
Key Takeaways
Republic Bancorp reported a 7% increase in net income for the first quarter of 2022, reaching $27.9 million, with a diluted EPS of $1.40. The company's ROA was 1.74% and ROE was 13.19%. Strong loan and deposit growth in Traditional Bank and solid performance in nontraditional business lines helped to mitigate revenue declines from PPP loans and mortgage banking.
Republic Bancorp's Q1 net income increased by 7% to $27.9 million.
Diluted EPS for Q1 2022 was reported as $1.40.
Traditional Bank grew its non-PPP loan portfolio by $107 million.
Tax Refunds Solutions segment reached $15.4 million of net income.