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Dec 31, 2024
Republic Bancorp Q4 2024 Earnings Report
Republic Bancorp reported a net income of $19.0 million for Q4 2024.
Key Takeaways
Republic Bancorp reported a net income of $19.0 million and Diluted EPS of $0.98 per share for the fourth quarter of 2024. The Core Bank's net income increased by 11% compared to the same period last year, driven by a rise in net interest income and solid credit quality. However, net income from the Republic Processing Group declined due to a larger allowance for early season tax loans within Tax Refund Solutions.
Core Bank's net income increased 11% year-over-year.
Core Bank net interest margin improved from 3.40% to 3.64%.
Republic Processing Group net income declined due to losses in Tax Refund Solutions.
Core Bank's credit quality remained solid with low net charge-offs.