Republic Bancorp, Inc. (RBCAA) 10-Year Financial Performance & Capital Metrics

RBCAA • • Banking & Credit

Financial ServicesRegional BanksDigital & Specialized BankingSBA & Specialty Lending

AboutRepublic Bancorp, Inc., a financial holding company, provides various banking products and services in the United States. It operates in five segments: Traditional Banking, Warehouse, Mortgage Banking, Tax Refund Solutions, and Republic Credit Solutions. The company accepts demand, money market accounts, savings, individual retirement accounts, time, brokered, and other certificates of deposit. Its loan products include residential real estate, commercial real estate, construction and land development, home improvement and home equity, secured and unsecured personal, and aircraft loans. The company also offers credit cards; title insurance and other financial products and services; and memory banking, private banking, lockbox processing, remote deposit capture, business online banking, account reconciliation, automated clearing house processing, and internet and mobile banking services. In addition, it provides short-term and revolving credit facilities to mortgage bankers; tax refund solutions, which facilitate the receipt and payment of federal and state tax refund products through third-party tax preparers and tax-preparation software providers; and general purpose reloadable prepaid cards through third party service providers. Further, the company offers consumer credit products; and property and casualty insurance products. As of January 28, 2022, it operated 42 full-service banking centers. Republic Bancorp, Inc. was incorporated in 1974 and is headquartered in Louisville, Kentucky.Show more

Net Interest Income $312M +8.1%
Total Revenue $500M +18.6%
Net Income $101M +12.2%
Return on Equity 10.64% +4.2%
Net Interest Margin 4.56% +4.1%
Efficiency Ratio 39.39% -14.2%
ROA 1.51% +3.7%
Equity / Assets 14.49% +4.7%
Book Value per Share 50.77 +10.4%
Tangible BV/Share 48.70 +10.8%
Debt/Equity 0.54 -4.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong NIM of 4.6%
✓Efficient operations: 39.4% efficiency ratio
✓11 consecutive years of dividend growth
✓Well capitalized: 14.5% equity/assets
✓Healthy dividend yield of 2.3%
✓Trading at only 1.4x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y11.29%

5Y7.81%

3Y17.26%

TTM-

Profit (Net Income) CAGR

10Y13.42%

5Y2.03%

3Y4.98%

TTM24.99%

EPS CAGR

10Y14.14%

5Y3.36%

3Y6.73%

TTM22.31%

ROCE

10Y Avg7.36%

5Y Avg9.26%

3Y Avg9.66%

Latest8.58%

Peer Comparison

SBA & Specialty Lending

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TFINTriumph Financial, Inc.	1.6B	67.15	124.35	3.34%	3.3%	1%		0.16
LOBLive Oak Bancshares, Inc.	1.66B	36.12	21.37	19.67%	8.34%	5.78%	29.41%	0.11
ESQEsquire Financial Holdings, Inc.	901.77M	105.28	20.48	13.67%	31.57%	17.59%	4.33%
FINWFinWise Bancorp	238.99M	17.59	18.91	12.56%	13.07%	7.97%		0.03
FSFGFirst Savings Financial Group, Inc.	224.48M	32.00	16.16	4.58%	10.11%	11.73%	40.32%	1.98
RBBRBB Bancorp	361.56M	21.21	14.43	-1.75%	11.49%	5.09%	15.96%	0.72
HOPEHope Bancorp, Inc.	1.45B	11.28	13.76	-8.63%	9.96%	2.29%	7.39%	0.18
HAFCHanmi Financial Corporation	830.06M	27.71	13.52	8.03%	14.48%	9.31%	6.18%	0.54

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	123.97M	156.05M	198.52M	226.06M	236.13M	232.31M	222.74M	236.69M	288.78M	312.15M
NII Growth %	0.1%	0.26%	0.27%	0.14%	0.04%	-0.02%	-0.04%	0.06%	0.22%	0.08%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	142.43M	173.99M	218.78M	256.18M	280.88M	252.26M	228.41M	244.18M	356.06M	432.99M
Interest Expense	18.46M	17.94M	20.26M	30.12M	44.76M	19.94M	5.67M	7.49M	67.28M	120.83M
Loan Loss Provision	5.4M	14.49M	27.7M	31.37M	25.76M	31.28M	14.81M	22.35M	47.62M	54.38M
Non-Interest Income+	44.12M	53.37M	54.43M	58.95M	62.31M	82.75M	81.61M	72.04M	65.49M	66.81M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	186.55M	227.36M	273.2M	315.13M	343.19M	335.01M	310.02M	316.22M	421.56M	499.79M
Revenue Growth %	0.09%	0.22%	0.2%	0.15%	0.09%	-0.02%	-0.07%	0.02%	0.33%	0.19%
Non-Interest Expense	109.45M	125.97M	146.86M	159.37M	159.48M	181.15M	178.1M	169.53M	193.43M	196.88M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	53.24M	68.96M	78.39M	94.26M	113.19M	102.63M	111.44M	116.84M	113.21M	127.7M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.2%	0.3%	0.14%	0.2%	0.2%	-0.09%	0.09%	0.05%	-0.03%	0.13%
Pretax Income+	53.24M	68.96M	78.39M	94.26M	113.19M	102.63M	111.44M	116.84M	113.21M	127.7M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	18.08M	23.06M	32.75M	16.41M	21.49M	19.39M	23.83M	25.74M	22.84M	26.33M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	35.17M	45.9M	45.63M	77.85M	91.7M	83.25M	87.61M	91.11M	90.37M	101.37M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.22%	0.31%	-0.01%	0.71%	0.18%	-0.09%	0.05%	0.04%	-0.01%	0.12%
Net Income (Continuing)	35.17M	45.9M	45.63M	77.85M	91.7M	83.25M	87.61M	91.11M	90.37M	101.37M
EPS (Diluted)+	1.68	2.19	2.17	3.74	4.39	3.99	4.26	4.57	4.55	5.18
EPS Growth %	0.22%	0.3%	-0.01%	0.72%	0.17%	-0.09%	0.07%	0.07%	-0%	0.14%
EPS (Basic)	1.69	2.19	2.18	3.76	4.40	3.99	4.25	4.59	4.61	5.21
Diluted Shares Outstanding	20.94M	20.95M	21.01M	21.07M	20.93M	20.87M	20.56M	19.91M	19.85M	19.54M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	210.08M	289.31M	299.35M	351.47M	385.3M	485.59M	756.97M	313.69M	316.57M	432.15M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	3.85B	4.32B	4.57B	4.66B	4.95B	5.37B	5.07B	5.24B	5.77B	5.88B
Investments Growth %	0.1%	0.12%	0.06%	0.02%	0.06%	0.09%	-0.06%	0.03%	0.1%	0.02%
Long-Term Investments	3.33B	3.83B	4.04B	4.18B	4.47B	4.85B	4.57B	4.62B	5.17B	5.54B
Accounts Receivables	0	0	0	0	0	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	10.17M	16.3M	16.3M	16.3M	16.3M	16.3M	16.3M	16.3M	40.52M	40.52M
Intangible Assets	0	0	0	0	0	0	0	0	0	0
PP&E (Net)	31.11M	40.46M	42.59M	43.13M	81.4M	82.86M	74.9M	69M	68.1M	68.49M
Other Assets	118.25M	140.66M	144.39M	158.68M	178.14M	199.63M	168.74M	188.81M	316.87M	330.01M
Total Current Assets	736.04M	784.2M	840.23M	842.24M	870.55M	1.02B	1.26B	944.45M	995.41M	867.26M
Total Non-Current Assets	3.49B	4.03B	4.25B	4.4B	4.75B	5.15B	4.83B	4.89B	5.6B	5.98B
Total Assets+	4.23B	4.82B	5.09B	5.24B	5.62B	6.17B	6.09B	5.83B	6.59B	6.85B
Asset Growth %	0.13%	0.14%	0.06%	0.03%	0.07%	0.1%	-0.01%	-0.04%	0.13%	0.04%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.02%	0.02%	0.01%	0.01%	0.02%	0.01%	0.02%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	1.14B	1.02B	982.76M	1.03B	995.39M	531.61M	355.64M	349.76M	513.16M	535.44M
Net Debt	926.09M	727.9M	683.41M	682.76M	610.08M	46.02M	-401.33M	36.08M	196.59M	103.29M
Long-Term Debt	740.74M	843.74M	778.74M	851.24M	791.24M	276.24M	25M	95M	380M	395M
Short-Term Debt	395.43M	173.47M	204.02M	182.99M	167.62M	211.03M	290.97M	216.96M	97.62M	103.32M
Other Liabilities	30.09M	34M	37.02M	60.09M	74.68M	80.22M	63.62M	91.32M	115.81M	108.65M
Total Current Liabilities	2.88B	3.33B	3.64B	3.64B	3.95B	4.94B	5.13B	4.75B	5.15B	5.31B
Total Non-Current Liabilities	770.83M	877.74M	815.76M	911.34M	902.45M	400.8M	128.29M	224.13M	531.35M	540.77M
Total Liabilities	3.65B	4.21B	4.45B	4.55B	4.86B	5.35B	5.26B	4.98B	5.68B	5.85B
Total Equity+	576.55M	604.41M	632.42M	689.93M	764.24M	823.32M	834.23M	856.61M	912.76M	992.03M
Equity Growth %	0.03%	0.05%	0.05%	0.09%	0.11%	0.08%	0.01%	0.03%	0.07%	0.09%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.06%	0.08%	0.07%	0.12%	0.13%	0.1%	0.11%	0.11%	0.1%	0.11%
Book Value per Share	27.53	28.84	30.11	32.75	36.51	39.45	40.58	43.04	45.98	50.77
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	4.92M	4.91M	4.9M	4.9M	4.91M	4.9M	4.7M	4.65M	4.55M	4.59M
Additional Paid-in Capital	136.91M	138.19M	139.41M	141.02M	142.07M	143.64M	139.96M	141.69M	142.12M	148.05M
Retained Earnings	432.67M	460.62M	487.7M	545.01M	614.17M	666.28M	687.7M	742.25M	786.49M	853.63M
Accumulated OCI	2.05M	687K	416K	-997K	3.1M	8.51M	1.87M	-31.98M	-20.41M	-14.24M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	50.05M	47.67M	77.78M	119.21M	105.19M	75.43M	100.25M	154.79M	108.53M	149M
Operating CF Growth %	0.87%	-0.05%	0.63%	0.53%	-0.12%	-0.28%	0.33%	0.54%	-0.3%	0.37%
Net Income	35.17M	45.9M	45.63M	77.85M	91.7M	83.25M	87.61M	91.11M	90.37M	101.37M
Depreciation & Amortization	8.01M	9.06M	9.98M	10.78M	11.05M	13.48M	18.31M	18.05M	15.01M	14.63M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	4M	-848K	18.83M	20.62M	2.82M	2.57M	-4.64M	46.21M	30.7M	43.12M
Working Capital Changes	2.23M	-7.64M	2.01M	8.31M	-2.01M	-25.74M	-3.6M	-3.56M	-30.29M	-12.94M
Cash from Investing+	-358.21M	-296.13M	-287.11M	-121.53M	-435.21M	-422.02M	306.55M	-254.51M	-516.95M	-181.03M
Purchase of Investments	-1.51B	-439.19M	-240.81M	-178.81M	-453.62M	-305.88M	-211.54M	-404.82M	-70M	-299.81M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	1.62M	-9.09M	0	0	6.07M	0	0	0	-40.97M	0
Other Investing	-276.06M	-299.19M	-216.2M	-157.61M	-433.26M	-373.5M	284.29M	-39.69M	-541.21M	-257.15M
Cash from Financing+	445.37M	327.69M	219.38M	54.45M	363.85M	446.87M	-135.42M	-343.56M	411.3M	147.61M
Dividends Paid	-15.84M	-16.77M	-17.66M	-19.5M	-21.38M	-23.2M	-24.7M	-26.14M	-28.35M	-30.51M
Share Repurchases	-551K	-1.21M	-1.05M	-827K	-1.42M	-3.94M	-47.53M	-12.58M	-20.28M	0
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	-1000K	1000K	-1000K	-1000K	-1000K	1000K	1000K	1000K
Other Financing	469.76M	246.66M	303.08M	2.27M	446.64M	989.01M	186.81M	-374.84M	174.93M	163.12M
Net Change in Cash+	137.2M	79.23M	10.04M	52.12M	33.83M	100.28M	271.38M	-443.28M	2.88M	115.58M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	72.88M	210.08M	289.31M	299.35M	351.47M	385.3M	485.59M	756.97M	313.69M	316.57M
Cash at End	210.08M	289.31M	299.35M	351.47M	385.3M	485.59M	756.97M	313.69M	316.57M	432.15M
Interest Paid	18.5M	18.22M	20.11M	30.14M	43.04M	22.4M	5.85M	7.41M	63.45M	119.75M
Income Taxes Paid	17.94M	26.07M	28.78M	11.12M	17.38M	24.93M	20.07M	21.64M	21.49M	27.49M
Free Cash Flow+	44.73M	40.64M	65.39M	109.39M	92.3M	71.85M	94.47M	151.29M	101.64M	143.19M
FCF Growth %	1.36%	-0.09%	0.61%	0.67%	-0.16%	-0.22%	0.31%	0.6%	-0.33%	0.41%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	6.2%	7.77%	7.38%	11.77%	12.61%	10.49%	10.57%	10.78%	10.22%	10.64%
Return on Assets (ROA)	0.88%	1.01%	0.92%	1.51%	1.69%	1.41%	1.43%	1.53%	1.45%	1.51%
Net Interest Margin	2.93%	3.24%	3.9%	4.31%	4.2%	3.77%	3.66%	4.06%	4.38%	4.56%
Efficiency Ratio	58.67%	55.4%	53.75%	50.57%	46.47%	54.07%	57.45%	53.61%	45.89%	39.39%
Equity / Assets	13.63%	12.55%	12.44%	13.17%	13.6%	13.35%	13.69%	14.68%	13.84%	14.49%
Book Value / Share	27.53	28.84	30.11	32.75	36.51	39.45	40.58	43.04	45.98	50.77
NII Growth	9.93%	25.88%	27.21%	13.87%	4.45%	-1.61%	-4.12%	6.26%	22.01%	8.09%
Dividend Payout	45.04%	36.53%	38.69%	25.04%	23.31%	27.87%	28.19%	28.7%	31.37%	30.09%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Transfer Agent	-	-	-	-	-	-	15.36M
Transfer Agent Growth	-	-	-	-	-	-	-
Deposit Account	-	-	-	-	-	-	14.19M
Deposit Account Growth	-	-	-	-	-	-	-
Credit and Debit Card	-	-	-	-	-	-	12.97M
Credit and Debit Card Growth	-	-	-	-	-	-	-
Financial Service, Other	-	-	-	-	-	-	3.88M
Financial Service, Other Growth	-	-	-	-	-	-	-
Core Banking Activities	211.91M	232.79M	246.08M	235.28M	223.82M	243.79M	-
Core Banking Activities Growth	-	9.86%	5.71%	-4.39%	-4.87%	8.92%	-
Traditional Banking	190.36M	206.63M	186.78M	188.74M	203.19M	230.4M	-
Traditional Banking Growth	-	8.54%	-9.60%	1.05%	7.66%	13.39%	-
Republic Processing Group	77.58M	78.34M	73.29M	72.17M	102.68M	116.44M	-
Republic Processing Group Growth	-	0.98%	-6.45%	-1.53%	42.27%	13.41%	-
Republic Credit Solutions	-	-	-	32.56M	42.48M	52.09M	-
Republic Credit Solutions Growth	-	-	-	-	30.49%	22.60%	-
Tax Refund Solutions	-	-	-	39.61M	60.2M	45.65M	-
Tax Refund Solutions Growth	-	-	-	-	51.96%	-24.17%	-
Warehouse Lending	15.77M	15.76M	25.98M	25.27M	13.78M	9.49M	-
Warehouse Lending Growth	-	-0.07%	64.91%	-2.72%	-45.48%	-31.12%	-
Mortgage Banking	5.78M	10.41M	-	21.27M	6.85M	3.9M	-
Mortgage Banking Growth	-	80.18%	-	-	-67.78%	-43.10%	-
Tax Refund Solutions	40.76M	43.48M	45.74M	-	-	-	-
Tax Refund Solutions Growth	-	6.69%	5.21%	-	-	-	-
Mortgage Banking	-	-	33.31M	-	-	-	-
Mortgage Banking Growth	-	-	-	-	-	-	-
Republic Credit Solutions Division	36.82M	34.86M	27.55M	-	-	-	-
Republic Credit Solutions Division Growth	-	-5.33%	-20.98%	-	-	-	-

Frequently Asked Questions

Valuation & Price

Republic Bancorp, Inc. (RBCAA) has a price-to-earnings (P/E) ratio of 13.4x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Republic Bancorp, Inc. (RBCAA) grew revenue by 18.6% over the past year. This is strong growth.

Yes, Republic Bancorp, Inc. (RBCAA) is profitable, generating $127.5M in net income for fiscal year 2024 (20.3% net margin).

Dividend & Returns

Yes, Republic Bancorp, Inc. (RBCAA) pays a dividend with a yield of 2.25%. This makes it attractive for income-focused investors.

Republic Bancorp, Inc. (RBCAA) has a return on equity (ROE) of 10.6%. This is reasonable for most industries.

Industry Metrics

Republic Bancorp, Inc. (RBCAA) has a net interest margin (NIM) of 4.6%. This indicates healthy earnings from lending activities.

Republic Bancorp, Inc. (RBCAA) has an efficiency ratio of 39.4%. This is excellent, indicating strong cost control.

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