Republic Bancorp Inc. Reports Earnings Results for the Fourth Quarter and Year Ended December 31, 2015
January 22, 2016 at 01:05 pm
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Republic Bancorp Inc. reported earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported total interest income was $36,842,000 against $34,331,000 a year ago. Net interest income was $32,466,000 against $29,477,000 a year ago. Income before income tax expense was $11,262,000 against $7,884,000 a year ago. Net income was $7,418,000 against $5,235,000 a year ago. Book value per share was $27.59 against $26.80 a year ago. Tangible book value per share was $26.87 against $26.08 a year ago. Diluted earnings per Class A Common Stock was $0.36 against $0.25 a year ago. Diluted earnings per Class B Common Stock were $0.33 against $0.24 a year ago. Return on average assets was 0.73% against 0.57% a year ago. Return on average equity was 5.13% against 3.73% a year ago.
For the year, the company reported total interest income was $142,432,000 against $132,377,000 a year ago. Net interest income was $123,970,000 against $112,773,000 a year ago. Income before income tax expense was $53,244,000 against $44,315,000 a year ago. Net income was $35,166,000 against $28,787,000 a year ago. Book value per share was $27.59 against $26.80 a year ago. Tangible book value per share was $26.87 against $26.08 a year ago. Diluted earnings per Class A Common Stock was $1.70 against $1.38 a year ago. Diluted earnings per Class B Common Stock were $1.54 against $1.32 a year ago. Return on average assets was 0.88% against 0.81% a year ago. Return on average equity was 6.12% against 5.16% a year ago.
Republic Bancorp, Inc. is a financial holding company of Republic Bank & Trust Company (the Bank) and Republic Insurance Services, Inc (the Captive). The Bank provides both traditional and non-traditional banking products. Its segments include Traditional Banking, Warehouse, Mortgage Banking, Tax Refund Solutions (TRS), Republic Payment Solutions (RPS), and Republic Credit Solutions (RCS). Its Traditional Banking products and services are offered through the Company's traditional RB&T brand. The Warehouse segment provides short-term, revolving credit facilities to mortgage bankers across the United States. Mortgage Banking activities primarily include fixed-term single-family, first-lien residential real estate loans. Through the TRS segment, the Bank facilitates the receipt and payment of federal and state tax refund products and offers a credit product through third-party tax preparers. The RPS segment offers a range of payments-related products and services to consumers.