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Sep 30, 2020
Republic Bancorp Q3 2020 Earnings Report
Net income increased by 11% year-over-year.
Key Takeaways
Republic Bancorp reported an 11% increase in net income for the third quarter of 2020, reaching $20.4 million, with diluted earnings per share of $0.98. The company's performance was driven by growth in mortgage banking and warehouse lending, despite challenges from net interest margin compression and increased provision for credit losses due to the COVID-19 pandemic.
Third quarter net income increased by 11% compared to the same period in 2019.
Diluted earnings per share reached $0.98.
Mortgage Banking and Warehouse Lending segments reached record highs in net income.
Company helped over 3,700 clients attain $528 million of financial relief amid pandemic-driven hardship through PPP loan.
Revenue by Segment
Historical Earnings Impact
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Avg. Return Before/After Earnings
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