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Republic Bancorp (RBCAA) Company Profile

Updated Sep 9, 2019
Republic Bancorp has the following business profile:
Company's Full Name:Republic Bancorp, Inc.
Short Name:Republic Bancorp
Trading Ticker Symbol:RBCAA
Primary Exchange:NASDAQ
Headquarter City/Country:Kentucky, KY
Primary Industry Sector:Finance
Seconday Sub-sector:Major Banks
Main Business Areas: Finance, Major Banks, Financial Services, Regional US Banks, Bank
Dividend Payments:Dividend History

Market and Trading Information for Republic Bancorp

The following details were available for trading and market data about the stock of Republic Bancorp as of writing:
Current Share Price:$42.43
Previous Year's Closing Price:$38.72
Percentage Price Change (YTD):9.58%
Market Cap:$888.77 million
52-week Price Range:$35.17 - $52.68
Dividend Per Share:$1.01
EPS (TTM):3.9
Price-Earnings (Trailing):10.88
Price-Earnings (Forward):11.11

Company Profile and Business Description for Republic Bancorp

Republic Bancorp, Inc. (Republic), incorporated on January 2, 1974, is a financial holding company of Republic Bank & Trust Company (the Bank) and Republic Insurance Services, Inc. (the Captive). The Bank is a Kentucky-based, state chartered non-member financial institution. The Company operates through four segments: Traditional Banking, Warehouse Lending (Warehouse), Mortgage Banking and Republic Processing Group (RPG). The Captive is an insurance subsidiary of the Company. As of December 31, 2016, the Captive provided property and casualty insurance coverage to the Company and the Bank, as well as 10 other third-party insurance captives for which insurance may not be available. Republic Bancorp Capital Trust is a subsidiary of Republic Bancorp, Inc.

Traditional Banking segment

The Traditional Banking segment provides traditional banking products to customers. The Traditional Banking segment consists of lending activities, private banking, treasury management services, Internet banking, Mobile Banking and other banking services. The Bank's principal lending activities consist of retail mortgage lending, commercial lending, construction and land development lending, consumer lending, Internet lending, indirect lending and correspondent lending. Through its retail banking centers, its correspondent lending channel and its Internet banking channel, the Bank originates single-family, residential real estate loans. In addition, the Bank originates home equity amortizing loans (HEAL) and home equity lines of credit (HELOCs) through its retail banking centers. The Bank offers single family, first lien residential real estate, adjustable rate mortgages (ARMs) with interest rate adjustments tied to various market indices with specified minimum and maximum adjustments. The Bank generally charges a higher interest rate for its ARMs if the property is not owner occupied.

The Bank conducts commercial lending activities primarily through its Commercial and Corporate Banking (the CCB Department) and its Business Banking department. The CCB Department is composed of the following divisions: Corporate Banking; Commercial Finance; Municipal Lending, and Republic Realty. Corporate Banking's product focus is on Commercial & Industrial (C&I) lending and, to a lesser degree, Commercial Real Estate (CRE) opportunities C&I loans include those secured by General Business Assets (GBA), which consist of equipment, accounts receivable, inventory, and other business assets owned by the borrower/guarantor. The Bank's CRE and multi-family loans are secured by various properties, such as office buildings, medical facilities, retail centers, warehouses, apartment buildings, condominiums, schools, religious institutions and other types of commercial use property. The Bank originates business loans for the construction of both single family residential properties and commercial properties (apartment complexes, shopping centers and office buildings). The Bank may originate loans for the acquisition and development of residential or commercial land into buildable lots. The Bank accepts online loan applications for its RB&T brand through its Website at www.republicbank.com. Primarily from its Warehouse clients, the Core Bank acquires for investment single family, first lien mortgage loans that meet the Core Bank's specifications through its Correspondent Lending channel.

The Bank originates residential construction real estate loans to finance the construction of single family dwellings. Construction loans also are made to contractors to build single family dwellings under contract. The Bank also originates land development loans to real estate developers for the acquisition, development and construction of commercial projects. The Bank began acquiring single family, first lien mortgage loans for investment through its Correspondent Lending channel. Correspondent Lending generally involves the Bank acquiring, primarily from its Warehouse clients, closed loans that meet the Bank's specifications. Traditional consumer loans made by the Bank include home improvement and home equity loans, other secured and unsecured personal loans, and credit cards.

The Bank's other Traditional Banking activities include Private Banking, Treasury Management Services, Internet Banking, Mobile Banking and Other Banking Service. The Bank provides financial products and services to high net worth individuals through its Private Banking department. The Bank provides various deposit products designed for commercial business clients located throughout its market footprint. Lockbox processing, remote deposit capture, business online banking, account reconciliation and Automated Clearing House (ACH) processing are additional services offered to commercial businesses through the Bank's Treasury Management department.

The Bank expands its market penetration and service delivery of its RB&T brand by offering clients Internet Banking services and products through its Website, www.republicbank.com. The Bank promotes the EarnMore account solely through its MemoryBank brand. The Bank allows clients to access and manage their accounts through its mobile banking application. The Bank also provides title insurance and other financial institution related products and services. The Bank maintains an acquisition strategy to selectively grow its franchise.

Warehouse Lending segment

The Bank provides short-term, revolving credit facilities to mortgage bankers across the United States through mortgage warehouse lines of credit. These credit facilities are secured by single family, first lien residential real estate loans. The credit facility enables the mortgage banking clients to close single family, first lien residential real estate loans in their own name and temporarily fund their inventory of these closed loans until the loans are sold to investors approved by the Bank or purchased by the Bank through its Correspondent Lending channel.

Mortgage Banking segment

Mortgage Banking activities primarily include 15-, 20- and 30-year fixed-term single family, first lien residential real estate loans that are sold into the secondary market, primarily to the Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac) and the Federal National Mortgage Association (FNMA or Fannie Mae). The Bank retains servicing on loans sold into the secondary market. Administration of loans with servicing retained by the Bank includes collecting principal and interest payments, escrowing funds for property taxes, and property insurance and remitting payments to secondary market investors.

Republic Processing Group segment

All divisions of the RPG segment operate through the Bank. The Company, through its Tax Refund Solutions (TRS) division, facilitates the payment of federal and state tax refund products through third-party tax preparers located throughout the Nation, as well as tax-preparation software providers. The Company's Republic Credit Solutions (RCS) division offers short-term consumer credit products. In general, the credit products are unsecured, small dollar consumer loans with maturities of 30 days-or-more, and are dependent on various factors including the consumer's ability to repay. Through its RPS division, the Bank is an issuing bank offering general-purpose reloadable prepaid cards through third-party program managers. The Company divides prepaid cards into two categories: Reloadable and Non-Reloadable. Reloadable types of cards are considered general-purpose reloadable (GPR) cards. Non-Reloadable types of cards are considered gift or incentive cards.

601 W Market St

Peer / Competitor Companies of Major Banks Sector

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