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Republic Bancorp, Inc. Reports Record 2012 Net Income Of $119.3 Million, A 27% Increase Over 2011. Fourth Quarter 2012 Net Income Increases 7% Over Fourth Quarter 2011

Stocks in this article: RBCAA

Republic Bancorp, Inc. (“Republic” or the “Company”) is pleased to report its fifth consecutive year of increased earnings by ending 2012 with net income of $119.3 million, representing a $25.2 million, or 27%, increase over 2011. Annual return on average assets (“ROA”) and return on average equity (“ROE”) during 2012 were both industry-strong at 3.35% and 22.51%. Diluted Earnings per Class A Common Share increased 27% for 2012 to $5.69 for the year ended December 31, 2012.

Republic earned fourth quarter net income of $6.6 million, a $417,000 increase over the fourth quarter of 2011. Diluted Earnings per Class A Common Share increased to $0.33 for the fourth quarter of 2012. ROA and ROE were both solid during the quarter at 0.77% and 4.95%. Steve Trager, Republic’s Chairman and CEO, commented: “In addition to strong earnings, we generated solid loan and deposit growth during 2012 with loans increasing $365 million, or 16%, and deposits growing $249 million, or 14%, while maintaining strong credit quality and plentiful capital.”

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

The following chart highlights Republic’s fourth quarter and year-to-date 2012 financial performance compared to the same period in 2011:

 
  Three Months Ended   %   Year Ended   %
(dollars in thousands, except per share data) 12/31/12   12/31/11 Change 12/31/12   12/31/11 Change
 
Income Before Income Tax Expense $ 10,186 $ 8,363 22 % $ 183,945 $ 144,197 28 %
Net Income $ 6,621 $ 6,204 7 % $ 119,339 $ 94,149 27 %
Diluted Earnings per Class A Share $ 0.33 $ 0.30 10 % $ 5.69 $ 4.49 27 %
ROA 0.77 % 0.76 % 1 % 3.35 % 2.76 % 21 %
ROE 4.95 % 5.46 % -9 % 22.51 % 21.42 % 5 %
 




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