Republic Bancorp Q3 2021 Earnings Report

Reported a 7% increase in net income from continuing operations compared to Q3 2020.

Key Takeaways

Republic Bancorp reported a solid third quarter with a 7% increase in net income from continuing operations compared to the same period last year. Diluted EPS also increased, driven by the company's stock buyback program and expense management.

Net income from continuing operations increased by 7% compared to the third quarter of 2020, reaching $18.4 million.

Diluted EPS from continuing operations rose by approximately 10% to $0.91, compared to $0.83 in the third quarter of 2020.

Net income from Core Banking operations was up 12% for the quarter, driven by a reduction in Provision and offset by a decrease in Mortgage Banking income.

Deposits reached a record level of $4.9 billion, a 5% increase since December 31, 2020.

Total Revenue

$52.3M

Previous year: $52.3M

Delinquent Loans to Total Loans

0.18%

Previous year: 0.23%