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TheStreet Open House

Republic Bancorp, Inc. Reports Record 2011 Net Income Of $94.1 Million, A 45% Increase Over 2010. Fourth Quarter 2011 Net Income Increases 40% Over Fourth Quarter 2010.

Stock quotes in this article: RBCAA

Republic Bancorp, Inc. is pleased to announce its fourth consecutive year of increased earnings by completing 2011 with net income of $94.1 million, a $29.4 million, or 45%, increase over 2010. Diluted Earnings per Class A Common Share increased 45% for the year ended December 31, 2011 to $4.49. For the fourth quarter of 2011, Republic earned net income of $6.2 million, a 40% increase over the fourth quarter of 2010. Diluted Earnings per Class A Common Share increased 43% to $0.30 for the quarter.

Steve Trager, Republic’s President and CEO, commented: “It gives me great pleasure to report another solid quarter of operating results, capping off a good year of earnings in 2011. In addition, I’m proud that our associates were able to generate core deposit and loan growth of 9% and 5% during the year, while maintaining good credit quality and high capital standards. With core capital and credit quality among the very best in the banking industry, we remain well-positioned to take advantage of unique opportunities that often arise in an uncertain economy.”

Republic Bancorp, Inc. (“Republic” or the “Company”) (NASDAQ: RBCAA), headquartered in Louisville, Kentucky, is the holding company for Republic Bank & Trust Company (“RB&T”)and Republic Bank.

The following table highlights Republic’s fourth quarter and annual financial performance for 2011 compared to the same periods in 2010:

  Three Months Ended   %   Year Ended   %
(dollars in thousands, except per share data) 12/31/11   12/31/10 Increase 12/31/11   12/31/10 Increase
 
Net Income $ 6,204 $ 4,418 40 % $ 94,149 $ 64,753 45 %
Diluted Earnings per Class A Share $ 0.30 $ 0.21 43 % $ 4.49 $ 3.10 45 %
ROA 0.76 % 0.54 % 41 % 2.76 % 1.85 % 49 %
ROE 5.46 % 4.75 % 15 % 21.42 % 17.92 % 20 %




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