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Mar 31, 2024
Republic Bancorp Q1 2024 Earnings Report
Republic Bancorp reported a net income of $30.6 million and diluted EPS of $1.58 for Q1 2024, representing increases of 9% and 11% over Q1 2023.
Key Takeaways
Republic Bancorp reported a solid first quarter to start 2024, with net income increasing by 9% and diluted EPS increasing by 11% compared to the first quarter of 2023. Diversification of revenue streams played a meaningful role in the company's success, with three of the five reportable business segments generating increases in net income.
Republic Bancorp reported Q1 2024 net income of $30.6 million and EPS of $1.58, up 9% and 11% year-over-year, respectively.
Diversification of revenue streams was a key factor in the company's success.
Core Bank noninterest expenses were down 5% year-over-year, or flat excluding merger-related expenses from the prior year.
Republic Processing Group's Tax Refund Solutions segment was impacted by lower payments from the U.S. Treasury.
Revenue by Segment
Forward Guidance
The company looks forward to the remainder of 2024 with optimism, citing industry-leading credit quality, capital levels, client satisfaction ratings, and a well-diversified business model.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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