REPUBLIC BANCORP INC /KY/ RBCAA Income Statement

Republic bancorp inc /ky/ (RBCAA)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
INTEREST INCOME:
Loans, including fees
77,513	60,129	62,896	60,211	76,828	57,754	56,296	53,944	69,627	52,572	50,271	44,735	58,004	43,460	41,597	37,746	41,429	34,711	34,040	33,616	31,591	32,172	30,916	30,110	30,162	29,575	31,619	31,735	31,914	33,424	31,292	30,534	75,292	29,486	30,225	29,843	88,161	31,021	32,708
Taxable investment securities
2,783	3,450	3,221	3,284	3,591	3,524	2,964	2,708	2,634	2,494	2,364	2,391	2,155	2,096	1,942	1,983	1,855	1,761	1,733	1,779	1,773	1,818	1,896	1,908	1,859	2,067	1,984	1,976	2,040	2,075	2,483	2,904	3,267	3,760	3,864	4,093	3,592	3,788	3,720
Tax exempt investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4
Federal Home Loan Bank stock and other
863	948	1,942	2,169	2,214	1,624	1,830	1,704	1,572	1,283	1,090	695	724	347	395	411	731	370	334	327	397	341	332	387	476	397	406	408	447	431	353	376	1,028	361	337	523	870	461	455
Total interest income
81,159	64,527	68,059	65,664	82,633	62,902	61,090	58,356	73,833	56,349	53,725	47,821	60,883	45,903	43,934	40,140	44,015	36,842	36,107	35,722	33,761	34,331	33,144	32,405	32,497	32,039	34,009	34,119	34,401	35,930	34,128	33,814	79,587	33,607	34,426	34,459	92,623	35,270	36,887
INTEREST EXPENSE:
Deposits
6,302	7,442	8,042	6,903	6,748	5,161	4,562	3,934	3,360	3,012	2,587	2,324	1,879	1,699	1,620	1,347	1,392	1,147	1,068	1,021	1,144	1,060	930	937	978	1,020	1,043	975	1,055	1,125	1,197	1,213	1,539	1,647	2,057	2,272	2,938	2,946	3,101
Securities sold under agreements to repurchase and other short-term borrowings
119	162	298	330	421	373	317	222	213	170	161	146	25	14	11	15	25	20	17	17	38	40	28	22	22	17	11	13	29	35	110	118	112	111	111	173	251	262	244
Federal Home Loan Bank advances
1,648	2,160	3,839	4,062	2,730	2,694	2,782	2,723	2,274	2,242	2,383	1,943	2,292	2,310	2,664	2,973	2,953	3,027	2,982	2,997	2,928	3,125	3,116	3,267	3,564	3,634	3,788	3,735	3,558	3,588	3,619	3,540	4,086	4,323	4,467	4,556	4,834	4,978	4,858
Subordinated note
352	368	394	423	435	398	396	393	321	287	287	271	249	235	241	228	211	182	616	629	629	629	628	629	629	629	628	629	629	631	630	631	630	629	628	629	629	632	631
Total interest expense
8,421	10,132	12,573	11,718	10,334	8,626	8,057	7,272	6,168	5,711	5,418	4,684	4,445	4,258	4,536	4,563	4,581	4,376	4,683	4,664	4,739	4,854	4,702	4,855	5,193	5,300	5,470	5,352	5,271	5,379	5,556	5,502	6,367	6,710	7,263	7,630	8,652	8,818	8,834
NET INTEREST INCOME
72,738	54,395	55,486	53,946	72,299	54,276	53,033	51,084	67,665	50,638	48,307	43,137	56,438	41,645	39,398	35,577	39,434	32,466	31,424	31,058	29,022	29,477	28,442	27,550	27,304	26,739	28,539	28,767	29,130	30,551	28,572	28,312	73,220	26,897	27,163	26,829	83,971	26,452	28,053
Credit loss expense
22,760	914	3,153	4,460	17,231	5,104	4,077	4,932	17,255	6,071	4,221	5,061	12,351	5,004	2,489	1,814	5,186	2,074	2,233	904	185	1,359	1,510	693	-703	503	2,200	905	-625	23,664	2,083	466	-11,170	35,469	140	439	-18,082	1,804	-2,980
NET INTEREST INCOME AFTER CREDIT LOSS EXPENSE
49,978	53,481	52,333	49,486	55,068	49,172	48,956	46,152	50,410	44,567	44,086	38,076	44,087	36,641	36,909	33,763	34,248	30,392	29,191	30,154	28,837	28,118	26,932	26,857	28,007	26,236	26,339	27,862	29,755	29,227	26,489	27,846	62,050	26,434	27,303	27,268	65,889	28,256	25,073
NONINTEREST INCOME:
Service charges on deposit accounts
3,136	3,547	3,749	3,598	3,303	3,565	3,579	3,574	3,555	3,325	3,395	3,390	3,247	3,338	3,416	3,282	3,140	3,330	3,399	3,247	3,039	3,381	3,568	3,563	3,295	3,570	3,676	3,498	3,210	3,469	3,438	3,286	3,303	3,524	3,421	3,736	3,424	3,847	3,983
Net refund transfer fees
15,823	112	317	3,629	17,100	55	149	3,473	16,352	171	177	2,770	15,382	121	132	1,909	17,078	49	97	1,907	15,335	39	-133	1,836	14,388	35	152	1,683	12,014	177	231	6,147	71,749	-	425	-	-	-	-
Mortgage banking income
4,795	2,480	3,064	2,416	1,539	1,129	1,360	1,316	1,020	935	1,102	1,445	1,160	980	3,081	1,560	1,261	862	972	1,224	1,353	688	876	812	486	778	1,026	2,180	3,274	2,856	2,274	1,963	1,354	807	1,352	924	816	1,679	1,403
Interchange fee income
2,552	2,814	3,031	3,257	2,757	2,844	2,757	2,891	2,667	2,533	2,475	2,547	2,326	2,254	2,415	2,217	2,123	2,148	1,967	2,044	2,194	1,673	1,619	1,681	2,044	1,941	1,519	1,656	1,811	1,940	1,390	1,441	1,556	1,399	1,415	1,493	1,484	1,213	1,312
Program fees
2,624	1,284	1,317	1,037	1,074	1,520	1,686	1,323	1,696	1,852	1,597	1,284	1,091	1,082	979	664	319	362	474	169	228	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain recognized in other comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	0
Net impairment loss recognized in earnings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	279	-	57
Increase in cash surrender value of bank owned life insurance
389	397	394	377	382	392	385	379	371	384	394	393	391	402	406	369	339	352	348	353	349	378	381	379	191	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net losses on debt securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	558	0	0	-279	-	-57
Electronic refund check fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,584	81,062	293	5,052
Net RAL securitization income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8	25
Bargain purchase gain
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,324	-	26,923	-96	27,899	-	-	-	-	-	-
Gain on sale of banking center
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,856	-	-	-	-
Gain on call of securities available for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	88	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gains on other real estate owned
3	53	267	90	130	29	248	320	132	254	31	249	142	53	-137	80	248	-19	-8	-155	-119	-909	-758	-69	-482	-1,368	403	1,034	277	-	-	-	-	-	-	-	-	-	-
Gain on sale of securities available for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	56	-	301	1,907	-	-	-
Other
1,247	1,139	672	721	1,132	585	1,301	1,020	1,752	872	1,203	849	1,184	2,255	1,009	721	413	633	557	608	607	355	974	879	793	381	723	732	615	-126	589	1,345	892	93	706	724	805	783	586
Total noninterest income
30,569	19,655	12,811	15,125	27,417	10,119	11,465	14,296	27,545	10,190	10,374	12,927	24,923	10,485	11,301	10,802	24,921	7,717	7,806	9,485	22,986	6,196	6,527	9,081	20,715	5,423	7,499	10,783	22,525	7,725	34,845	14,086	106,809	6,468	10,476	15,368	87,312	7,823	12,304
NONINTEREST EXPENSE:
Salaries and employee benefits
26,622	23,997	24,822	25,286	25,076	21,743	22,846	22,766	23,834	20,502	20,505	20,015	21,211	16,917	18,068	17,814	17,083	13,194	15,297	14,323	15,277	13,761	12,164	13,965	14,483	14,352	12,226	15,086	16,114	14,428	14,921	14,313	16,971	11,332	13,145	13,250	17,239	13,399	12,966
Occupancy and equipment, net
6,846	6,241	6,571	6,472	6,584	5,992	6,279	6,391	6,221	6,308	5,841	5,903	5,967	5,485	5,573	5,109	5,419	4,997	5,217	5,142	5,201	5,134	5,544	5,508	5,822	5,564	5,462	5,315	5,577	5,538	5,718	5,144	6,074	5,277	5,138	5,001	6,297	5,114	5,053
Communication and transportation
1,289	1,198	1,017	1,071	1,161	1,115	1,047	1,241	1,382	1,261	1,239	939	1,272	1,282	1,029	872	1,073	984	951	771	1,046	1,079	905	856	1,026	1,117	990	991	1,030	1,139	1,045	961	2,661	1,227	1,081	878	2,509	887	719
Marketing and development
833	1,223	1,420	1,278	1,102	784	1,449	1,283	916	1,098	1,677	1,409	1,004	1,005	1,076	1,190	507	843	756	977	585	798	1,135	803	528	579	745	880	902	543	828	904	938	729	736	868	904	722	802
FDIC insurance expense
-	0	0	295	448	264	360	345	525	328	300	300	450	297	345	480	658	462	474	474	674	458	424	414	569	448	419	402	413	395	287	291	430	707	918	1,165	1,635	586	782
Bank franchise tax expense
2,506	927	935	935	2,496	863	710	860	2,518	652	749	790	2,435	813	846	647	2,451	640	846	847	2,401	715	731	831	2,339	836	707	857	1,715	553	729	703	1,931	653	713	714	1,565	642	645
Data processing
2,539	2,532	2,344	2,217	2,096	2,434	2,350	2,443	2,386	2,606	1,795	1,695	1,652	1,586	1,659	1,543	1,333	1,323	959	1,092	966	1,018	824	874	797	678	934	792	716	663	1,030	1,195	1,221	855	787	817	748	660	598
Interchange related expense
1,076	1,115	1,138	1,302	1,315	1,237	1,138	1,098	1,007	931	928	1,071	1,058	1,071	1,118	1,047	904	1,026	909	931	1,007	818	788	847	997	847	655	718	843	753	648	660	601	549	566	601	523	299	286
Supplies
452	335	292	582	484	446	314	303	381	565	241	261	527	437	280	240	449	292	229	219	361	304	205	60	440	357	228	218	354	366	270	529	949	736	409	314	894	219	346
Other real estate owned and other repossession expense
18	2	130	148	46	31	2	16	45	104	55	132	97	148	159	116	80	250	146	120	219	108	218	308	390	-383	497	945	889	-348	1,328	555	605	889	608	378	481	562	502
Legal and professional fees
1,237	601	1,026	844	886	753	935	728	1,043	616	446	596	752	590	539	604	823	510	653	528	1,615	587	730	438	1,011	2,844	1,343	1,338	430	583	388	527	368	846	784	979	1,360	365	346
FHLB advance prepayment penalty
-	-	-	-	-	-	-	-	-	-	-	-	-	-	846	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of premises held for sale
-	-	-	-	66	-	-	-	-	-	965	-	-	-	58	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Charitable contributions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	231	232	200	2,678	223	178	234	5,298	282	296
FDIC civil money penalty
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,000	-	-	-
FHLB advance prepayment expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,436	-	-	-	-	-	-
Other
3,551	2,408	2,716	2,998	3,815	2,819	3,782	3,158	2,787	2,964	3,285	2,623	2,514	2,402	1,938	2,204	1,761	2,194	1,801	1,741	1,722	1,650	1,537	1,380	1,797	1,399	2,079	2,157	2,319	1,922	2,338	1,469	3,290	1,616	1,375	1,327	3,365	1,385	1,304
Total noninterest expense
46,969	40,835	42,411	43,428	45,509	38,963	41,212	40,632	43,045	38,145	38,026	35,734	38,939	32,166	33,534	31,866	32,541	26,847	28,238	27,165	31,074	26,430	25,205	26,284	30,199	28,638	26,285	29,699	31,302	26,766	29,762	27,451	41,153	24,539	26,438	28,526	42,818	25,122	24,645
INCOME BEFORE INCOME TAX EXPENSE
33,578	32,301	22,733	21,183	36,976	20,328	19,209	19,816	34,910	16,612	16,434	15,269	30,071	14,960	14,676	12,699	26,628	11,262	8,759	12,474	20,749	7,884	8,254	9,654	18,523	3,021	7,553	8,946	20,978	10,186	31,572	14,481	127,706	8,363	11,341	14,110	110,383	10,957	12,732
INCOME TAX EXPENSE
6,881	6,533	4,325	3,176	7,460	3,022	1,798	4,150	7,441	11,774	5,728	5,198	10,054	4,960	4,848	4,359	8,893	3,844	3,119	4,154	6,961	2,649	3,008	3,332	6,539	1,676	2,950	2,827	7,622	3,565	10,904	4,903	45,234	2,159	3,471	5,447	38,971	3,647	4,335
NET INCOME
26,697	25,768	18,408	18,007	29,516	17,306	17,411	15,666	27,469	4,838	10,706	10,071	20,017	10,000	9,828	8,340	17,735	7,418	5,640	8,320	13,788	5,235	5,246	6,322	11,984	1,345	4,603	6,119	13,356	6,621	20,668	9,578	82,472	6,204	7,870	8,663	71,412	7,310	8,397
BASIC EARNINGS PER SHARE:
Basic earnings per share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.65	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
DILUTED EARNINGS PER SHARE:
Diluted earnings per share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.64	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividend declared per common share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.17	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized gain (loss) on securities available for sale, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-385	2,132
Change in unrealized losses on securities available for sale for which a portion of an other-than-temporary impairment has been recognized in earnings, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-81	-222
Reclassification adjustment for gains/losses realized in income, net of tax
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	37
Other comprehensive income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-304	2,317
COMPREHENSIVE INCOME
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,006	10,714
Class A Common Stock
Basic earnings per share (in dollars per share)
1.29	1.25	0.88	0.86	1.42	0.85	0.84	0.75	1.32	0.25	0.51	0.48	0.97	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted earnings per share (in dollars per share)
1.28	1.24	0.88	0.86	1.41	0.85	0.83	0.74	1.32	0.25	0.51	0.48	0.96	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividend declared per common share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	0.22	0.22	0.20	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Class B Common Stock
Basic earnings per share (in dollars per share)
1.17	1.13	0.80	0.79	1.29	0.76	0.76	0.68	1.21	0.22	0.47	0.44	0.88	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Diluted earnings per share (in dollars per share)
1.16	1.13	0.80	0.78	1.28	0.76	0.76	0.68	1.20	0.21	0.47	0.44	0.88	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividend declared per common share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	0.20	0.20	0.19	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-