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Jun 30, 2020
Republic Bancorp Q2 2020 Earnings Report
Reported solid second quarter results with net income of $15.8 million and EPS of $0.76, but earnings were impacted by provisions for credit losses related to COVID-19.
Key Takeaways
Republic Bancorp reported a net income of $15.8 million for the second quarter of 2020, with diluted EPS of $0.76. The results were negatively impacted by provisions for expected credit losses due to the COVID-19 pandemic.
Net income for the second quarter was $15.8 million, with diluted EPS at $0.76.
Core Bank net interest income was $45.5 million, a 1% decrease compared to Q2 2019.
Core Bank noninterest income increased by 41% to $14.5 million, driven by mortgage banking income.
Republic Processing Group reported net income of $2.6 million, down from $5.1 million in Q2 2019, impacted by increased provision for Easy Advance loans.
Republic Bancorp
Republic Bancorp
Republic Bancorp Revenue by Segment
Revenue by Segment
Traditional Banking Revenue
CapyFin.comWarehouse Lending Revenue
CapyFin.comMortgage Banking Revenue
CapyFin.comTax Refund Solutions Revenue
CapyFin.comRepublic Credit Solutions Revenue
CapyFin.com Forward Guidance
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.