LOUISVILLE, Ky: Republic Bancorp, Inc. concluded 2014 with fourth quarter net income of $5.2 million, a significant increase over the fourth quarter of 2013, resulting in Diluted Earnings per Class A Common Share of $0.25.
For the 2014 fiscal year, it achieved net income of $28.8 million, resulting in Diluted Earnings per Class A Common Share of $1.38, a 13% increase over 2013.
Republic’s Chairman and Chief Executive Officer Steve Trager said: “I’m very pleased with the positive momentum we have created with our balance sheet growth and our overall earnings during the second half of 2014. I am particularly proud of our efforts to overcome industry challenges, as we were able to successfully execute several of our strategic growth initiatives. We were able to successfully achieve growth through a diverse set of origination channels, including: our Traditional market footprint, our correspondent lending channel and our Warehouse Lending segment. Our strong loan growth in 2014 has allowed us to combat industry-wide net interest margin challenges without compromising our industry-strong credit standards.”
