Republic Bank

Republic Bank Named One of the Best-Performing Large Community Banks in the U.S. by S&P Global Market Intelligence

Retrieved on: 
Wednesday, March 27, 2024
Banking, Professional Services, Finance, Organization, Net, Growth, Community, S&P Global, Research, Safety, XM, Republic Bank, Multimedia, Commonwealth, Cryptocurrency

Republic Bank today announced it has been named a top-50 best-performing bank in the S&P Global Market Intelligence Top 50 Community Banks with assets of $3 -10 billion, with the highest ranking of any bank headquartered in Kentucky.

Key Points: 
  • Republic Bank today announced it has been named a top-50 best-performing bank in the S&P Global Market Intelligence Top 50 Community Banks with assets of $3 -10 billion, with the highest ranking of any bank headquartered in Kentucky.
  • The rankings assess the performance of banking institutions based on returns, growth and funding, while placing a premium on the strength and risk profile of balance sheets.
  • “We’re honored to be named a Top-50 community bank and to be ranked highest in the Commonwealth of Kentucky,” said Logan Pichel, president and chief executive officer, Republic Bank.
  • NPS® is a common metric used by organizations to measure how they are perceived by their customers.

Republic Bank named to Newsweek’s America’s Best Regional Banks and Credit Unions 2024

Retrieved on: 
Tuesday, March 5, 2024
Banking, Accounting, Professional Services, Finance, Online, Bank, Credit union, Multimedia, Republic Bank

Republic Bank & Trust Company ("Republic" or the "Bank") announced today that it has been recognized as one of America’s Best Regional Banks and Credit Unions 2024 by Newsweek and Plant-A-Insights Group.

Key Points: 
  • Republic Bank & Trust Company ("Republic" or the "Bank") announced today that it has been recognized as one of America’s Best Regional Banks and Credit Unions 2024 by Newsweek and Plant-A-Insights Group.
  • This survey of more than 35,000 customer interviews included over 140,000 reviews of regional banks and credit unions.
  • Republic was also recently named to Newsweek’s Best Online Lenders in America 2024 list.
  • Newsweek and market-data research firm Plant-A Insights are proud to introduce ‘America’s Best Regional Banks and Credit Unions 2024,’ highlighting local lenders that are committed to the needs of their communities.”

RBAZ Bancorp, Inc. Announces Unaudited Financial Results for the Quarter and Year Ending December 31, 2023

Retrieved on: 
Monday, January 29, 2024
Total, Bank, Paycheck Protection Program, Federal, Federal Reserve, Republic Bank, Investment, Federal Home Loan Banks, Marketing, Growth

Prior year earnings of $1.06 per share were comprised of $0.96 per share attributable to core operations and $0.10 per share due to impacts from the Paycheck Protection Program.

Key Points: 
  • Prior year earnings of $1.06 per share were comprised of $0.96 per share attributable to core operations and $0.10 per share due to impacts from the Paycheck Protection Program.
  • Ending 2023 with a strong earnings performance, 14% asset growth and excellent credit quality amid all the headwinds coming at us is a tremendous source of pride.
  • Total borrowings of $20,929,000 at December 31, 2023 included $15,000,000 in advances from the Federal Home Loan Bank to support significant loan growth that occurred late in the fourth quarter.
  • The Bank remains “Well Capitalized” under the Community Bank Leverage Ratio (CBLR) framework as follows:

Republic Bancorp, Inc. Increases its Common Stock Cash Dividends Paid for the 26th Consecutive Year

Retrieved on: 
Wednesday, January 24, 2024
Banking, Professional Services, Finance, Bank, MSA, Common stock, Republic Bank, Common, Internet, Holding company

Republic Bancorp, Inc. (NASDAQ: RBCAA), parent company of Republic Bank & Trust Company, today announced a 9% increase in the Company’s quarterly cash dividends.

Key Points: 
  • Republic Bancorp, Inc. (NASDAQ: RBCAA), parent company of Republic Bank & Trust Company, today announced a 9% increase in the Company’s quarterly cash dividends.
  • The quarterly cash dividend of $0.407 per share of Class A Common Stock and $0.37 per share on Class B Common Stock will be payable April 19, 2024, to shareholders of record as of March 15, 2024.
  • The increased cash dividend results in an annualized dividend yield for the Class A Common stock of 3.20% based upon the stock’s closing price on January 23, 2024.
  • “We are excited to announce an increase in our quarterly cash dividends for the 26th consecutive year.

Republic First Bancorp and Norcross Braca Group Provide Update on Closing of $35 Million Capital Investment

Retrieved on: 
Thursday, November 30, 2023
Republic, Republic First Bancorp, Republic Bank, Security (finance), Observer, Cryptocurrency

“We have made significant progress on what has been a complicated transaction, which is why we fully funded our $35 million investment into an escrow account -- we will be able to move forward quickly when all requirements have been met and closing conditions have been satisfied,” said George E. Norcross, III. “We look forward to completing the transaction in the coming weeks so we can make the changes needed to set Republic First up for long term success for the benefit of its customers and clients, employees and shareholders.”

Key Points: 
  • PHILADELPHIA, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Republic First Bancorp, Inc. (OTCEM: FRBK) (“Republic” or the “Company”), the parent company of Republic First Bank d/b/a Republic Bank, and George E. Norcross, III, Gregory B. Braca, Philip A. Norcross, Lexie Norcross, and other Norcross family members and affiliates (collectively, the “Norcross Braca Group”), today provided an updated timeline for the closing of the Norcross Braca Group’s previously announced $35 million capital investment in the Company.
  • The parties have agreed to extend the outside date for closing the investment to February 29, 2024, subject to the closing conditions outlined in the securities purchase agreement filed with the Securities and Exchange Commission on November 2, 2023.
  • Republic will now hold a special meeting of stockholders no later than February 16, 2024 to facilitate the approval of the transaction.
  • Further solidifying the investment, the Norcross Braca Group today deposited $35 million into an escrow account, which is to be released to the Company upon closing.

Republic Bancorp, Inc. Declares Common Stock Dividends

Retrieved on: 
Wednesday, November 15, 2023
Banking, Accounting, Professional Services, Finance, Bank, Republic Bank, Common stock, MSA, Internet, Prospect

Republic Bancorp, Inc. (NASDAQ: RBCAA), parent company of Republic Bank & Trust Company, declared a cash dividend of $0.374 per share on Class A Common Stock and $0.34 per share on Class B Common Stock, payable January 19, 2024, to shareholders of record as of December 15, 2023.

Key Points: 
  • Republic Bancorp, Inc. (NASDAQ: RBCAA), parent company of Republic Bank & Trust Company, declared a cash dividend of $0.374 per share on Class A Common Stock and $0.34 per share on Class B Common Stock, payable January 19, 2024, to shareholders of record as of December 15, 2023.
  • Republic Bancorp, Inc. (the “Company”) is the parent company of Republic Bank & Trust Company (the “Bank”).
  • In addition, Republic Bank Finance has one loan production office in St. Louis, Missouri.
  • The Company’s Class A Common Stock is listed under the symbol “RBCAA” on the NASDAQ Global Select Market.

Republic Bancorp and Norcross Braca Group Announce $35 Million Investment

Retrieved on: 
Friday, October 27, 2023
Toronto-Dominion Bank, Ballard Spahr, III, Appointment, IV, Sullivan & Cromwell, Oliver Cromwell, Chair, Risk-weighted asset, Republic, Republic First Bancorp, Vinson & Elkins, Republic Bank, LLP, TD, Cryptocurrency, Management

PHILADELPHIA, Oct. 27, 2023 (GLOBE NEWSWIRE) -- Republic First Bancorp, Inc. (OTCEM: FRBK) (“Republic” or the “Company”), the parent company of Republic First Bank d/b/a Republic Bank, and George E. Norcross, III, Gregory B. Braca, Philip A. Norcross, Lexie Norcross, other Norcross family members and affiliates (collectively, the “Norcross Braca Group”), today announced that they have signed a Securities Purchase Agreement to effectuate a $35 million investment by the Norcross Braca Group. As part of the agreement, the Company’s Board of Directors (the “Board”) will be reconstituted, with former TD Bank U.S. CEO Gregory B. Braca and two other highly qualified individuals joining as Directors and Philip A. Norcross becoming the Chair. Upon closing of the new investment, which is subject to regulatory approval and other conditions related to the Company, the remainder of the previously announced $75 million to $100 million capital raise will commence.

Key Points: 
  • Investment Will Improve Capital Ratios and Result in Reconstitution of Republic Board, with Appointment of Philip A. Norcross as Chair as well as Gregory B. Braca and Two New Independent Directors
    PHILADELPHIA, Oct. 27, 2023 (GLOBE NEWSWIRE) -- Republic First Bancorp, Inc. (OTCEM: FRBK) (“Republic” or the “Company”), the parent company of Republic First Bank d/b/a Republic Bank, and George E. Norcross, III, Gregory B. Braca, Philip A. Norcross, Lexie Norcross, other Norcross family members and affiliates (collectively, the “Norcross Braca Group”), today announced that they have signed a Securities Purchase Agreement to effectuate a $35 million investment by the Norcross Braca Group.
  • Upon closing of the new investment, which is subject to regulatory approval and other conditions related to the Company, the remainder of the previously announced $75 million to $100 million capital raise will commence.
  • Legacy Directors Andrew B. Cohen, Harry D. Madonna, Harris Wildstein and Lisa Jacobs will all depart the Board.
  • Sullivan & Cromwell LLP and Ballard Spahr are serving as legal advisors to the Norcross Braca Group.

RBAZ Bancorp, Inc. Announces Unaudited Financial Results For the Quarter Ending September 30, 2023

Retrieved on: 
Wednesday, October 25, 2023
Bank, Paycheck Protection Program, Gilbert, Federal Reserve, Federal, Growth, Republic Bank, City, Marketing, Phoenix metropolitan area arterial roads, Total, Investment, Uncertainty, Cryptocurrency, Phoenix

President and CEO Brian Ruisinger stated “We are proud to report our strongest earnings quarter of 2023 reflecting a greater than 50% increase over the same quarter of the prior year.

Key Points: 
  • President and CEO Brian Ruisinger stated “We are proud to report our strongest earnings quarter of 2023 reflecting a greater than 50% increase over the same quarter of the prior year.
  • During the quarter, we saw robust net loan growth of over $10 million while continuing to maintain high asset quality.
  • Our Q3 performance has put us back on track for achieving our 2023 strategic objectives.
  • The Bank remains “Well Capitalized” under the Community Bank Leverage Ratio (CBLR) framework as follows:

Republic Bank Recognized as a Best Online Lender by Newsweek

Retrieved on: 
Wednesday, October 25, 2023
Professional Services, Small Business, Finance, Banking, Personal Finance, Accounting, Online, Republic, Republic Bank, LendingTree, Overalls, Bank, Republic Bank & Trust Company, Multimedia, Newsweek

Republic Bank & Trust Company ("Republic" or the "Bank") has been named to Newsweek’s Best Online Lenders in America 2024 list in multiple categories.

Key Points: 
  • Republic Bank & Trust Company ("Republic" or the "Bank") has been named to Newsweek’s Best Online Lenders in America 2024 list in multiple categories.
  • The rankings, a collaboration between Newsweek and Lending Tree, named Republic in five different loan types across two categories.
  • The Bank received recognition for three different loan types in the Best Customer Satisfaction category and for two different loan types in the Overall category.
  • "Republic Bank is pleased to be recognized as a top online lender by Newsweek and LendingTree,” said Logan Pichel, President and CEO of Republic Bank.

Biz2X Announces Partnership with Republic Bank of Arizona

Retrieved on: 
Wednesday, October 11, 2023
Partnership, EVP, Loan, State, Republic Bank, Growth, Independent Community Bankers of America, ICBA, AZ Business Magazine, Biz2credit, Fintech, Risk assessment, Bank, PHOENIX, Phoenix, Phoenix metropolitan area

NEW YORK and PHOENIX, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Biz2X today announced a new partnership with Republic Bank of Arizona (RBAZ) , a locally-owned community business bank dedicated to serving the State of Arizona.

Key Points: 
  • NEW YORK and PHOENIX, Oct. 11, 2023 (GLOBE NEWSWIRE) -- Biz2X today announced a new partnership with Republic Bank of Arizona (RBAZ) , a locally-owned community business bank dedicated to serving the State of Arizona.
  • “Our goal is to be the premier Arizona-based community business bank, dedicated to helping Arizona businesses succeed, and with this partnership, our lending can be accessible 24 hours a day.”
    RBAZ offers Commercial Loans and a suite of online cash management services to ensure businesses in the Phoenix area, and throughout Arizona, have what they need to grow.
  • In June 2022, RBAZ was ranked 2nd in a list of the Top 10 Arizona banks with $479 million or less in market deposits by AZBigMedia .
  • We understand what banks need to best service the small business space,” said Rohit Arora, CEO of Biz2X and parent company Biz2Credit, and a pioneer in fintech.