Republic Bancorp Q3 Net Income Rises - Quick Facts

(RTTNews) - Republic Bancorp (RBCAA) reported third quarter net income and earnings per Class A share of $26.5 million and $1.37 per share, increases of 23% and 25% over the third quarter of 2023. Net income for the Core Bank was $17.2 million, an increase of 30% from last year. Core Bank net interest income was $54.6 million, up 9% from the third quarter of 2023. Core Bank noninterest income increased to $11.1 million from $10.0 million.

Logan Pichel, CEO of the Republic Bank & Trust Company, said: "Our success is particularly evident within our Core Bank, as our net interest margin showed a marked expansion over the third quarter of 2023, while our total noninterest expenses were flat from the same period. Overall, four of our five reportable business segments produced solid increases in net income for the third quarter of 2024 versus the third quarter of 2023."

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