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Jun 30, 2024
Republic Bancorp Q2 2024 Earnings Report
Republic Bancorp reported net income of $25.2 million and diluted EPS of $1.30 for Q2 2024.
Key Takeaways
Republic Bancorp reported a strong performance in Q2 2024, with net income increasing by 20% and diluted EPS increasing by 22% compared to Q2 2023. The company saw growth in its core banking franchise and effective management of risks and expenses.
Core Bank asset quality remained excellent with low net charge-offs and nonperforming loans.
The company completed the sale of $67 million of lower-yielding mortgage loans.
Traditional Bank loan portfolio grew by $16 million.
Republic Processing Group's net income increased by 14%.
Revenue by Segment
Forward Guidance
Achieving moderately priced deposit growth will remain a major focus in the second half of 2024.
Positive Outlook
- Superior customer service
- Competitive products
- Convenient locations
- Solid digital capabilities
- Potential for long-term value creation
Historical Earnings Impact
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Avg. Return Before/After Earnings
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