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Jun 30, 2022
Republic Bancorp Q2 2022 Earnings Report
Republic Bancorp reported net income equal to the prior year's second quarter, driven by a one-time payment from a legal settlement that offset declines in PPP fee income and mortgage banking revenues.
Key Takeaways
Republic Bancorp, Inc. reported second quarter 2022 net income of $23.9 million, equaling its net income for the second quarter of 2021. Diluted Earnings per Class A Common Share was $1.20.
Net income from Core Banking was $8.5 million for the second quarter of 2022 compared to $13.0 million for the second quarter of 2021.
Core Bank net interest income was $43.2 million for the second quarter of 2022, a $1.5 million, or 3%, decrease from the second quarter of 2021.
Republic Processing Group reported net income of $15.4 million for the second quarter of 2022 compared to $10.9 million for the same period in 2021.
TRS recorded $13.0 million of noninterest income during the second quarter of 2022, partially offset by $699,000 in related expenses, resulting from the previously disclosed legal-settlement payment to RB&T.
Revenue by Segment
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