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Jun 30, 2021
Republic Bancorp Q2 2021 Earnings Report
Net income increased by 51% compared to Q2 2020.
Key Takeaways
Republic Bancorp reported a net income of $23.9 million for the second quarter of 2021, a 51% increase compared to the second quarter of 2020. Diluted earnings per Class A Common Share were $1.16.
Net income for Q2 2021 was $23.9 million, a 51% increase year-over-year.
Diluted EPS for Q2 2021 was $1.16.
An agreement to sell the Tax Refund Solutions (TRS) business to Green Dot Corporation for $165 million was announced.
Core Bank net income was approximately level with the first quarter of 2020, despite industry-wide headwinds.
Revenue by Segment
Forward Guidance
Republic Bancorp is focusing on completing the TRS sale to Green Dot and finding the optimal opportunity for the $165 million in proceeds. Within Core Banking operations, the focus is on overhead expense control and combating the impact of the low interest rate environment on the net interest margin.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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