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Dec 31, 2023
Republic Bancorp Q4 2023 Earnings Report
Republic Bancorp reported a net income of $19.7 million and diluted EPS of $1.01 for Q4 2023, representing increases of 6% and 7% over Q4 2022.
Key Takeaways
Republic Bancorp reported a net income of $19.7 million and diluted EPS of $1.01 for Q4 2023. The Core Banking operations reported a net income decrease, while the Republic Processing Group's net income increased, driven by Republic Payments Solutions.
Adjusted Net Income increased 21% for 2023 over 2022, adjusting for merger-related expenses and Green Dot settlements.
Republic's stock generated a total return of 39% in 2023, outperforming the KBW NASDAQ Bank Index.
Traditional Bank loans grew 20% overall in 2023, or 14% excluding the acquired operations of CBank.
Core Bank maintained strong credit quality with net charge-offs of 1 basis point for the year.
Revenue by Segment
Forward Guidance
Republic Bancorp anticipates combating challenges in net interest income by further diversifying revenue streams and fortifying liquidity, while continuing to improve operational efficiency.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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