Start here if you're new
what it is
Republic Bancorp is a regional bank that takes deposits, makes loans, and runs fee businesses like tax refund processing.
how it gets paid
Last year Republic Bancorp made $417M in revenue. Louisville MSA was the main engine at $195.2M, or 47% of sales.
why it's growing
Revenue grew 8.5% last year. Revenue grew 246% vs. prior year in the latest quarter.
what just happened
The quarter's loudest number was $323M in revenue, while shows Q4 2024 EPS at $0.98.
At a glance
B++ balance sheet — above average — nothing keeping you up at night
65/100 earnings predictability — reasonably predictable
11.1x trailing p/e — the market's not buying it — or you found a deal
2.9% dividend yield — cash in your pocket every quarter
$5.21 fy2024 eps est
xvary composite: 60/100 — average
What they do
Republic Bancorp is a regional bank that takes deposits, makes loans, and runs fee businesses like tax refund processing.
This bank wins by being boring in places where boring pays. It has 47 banking centers across five states and about $7.0 billion in assets as of September 30, 2025, which gives you local scale without megabank sprawl. Community banking moat → customers stick with the bank they already use → so what: your deposits, payments, and loans are annoying to move, and that friction protects earnings.
How they make money
$417M
annual revenue · their business grew +8.5% last year
Louisville MSA
$195.2M
Cincinnati MSA
$71.0M
Tampa MSA
$62.1M
Lexington MSA
$53.2M
Nashville MSA
$35.5M
The products that matter
core deposit and loan banking
Traditional Banking
$250M · 60% of segment revenue
it's the biggest part of the business at $250M. In plain English: your core bet is still old-fashioned banking, not a side business doing the heavy lifting.
main engine
funding for mortgage originators
Mortgage Warehouse Lending
$125M · +18%
this $125M segment grew 18%. that's the faster-moving part of the bank, which also makes it the part that can cool fastest if mortgage activity slows.
growth lever
tax refund processing
Tax Refund Processing
$42M · 10% of mix
this was a $42M revenue line before the asset sale. the $6M gain helps once. replacing the earnings contribution takes longer than booking the gain.
sold business
Key numbers
11.1x
trailing p/e
Valuation → what you pay for each dollar of earnings → so what: you are paying a small-bank price for a still-profitable franchise.
$417M
annual revenue
This is the size of the business today, up 8.5% vs. prior year per EDGAR.
$5.21
2024 eps
Earnings per share → profit for each share you own → so what: it reset higher from $4.62 in 2023 but is still below $8.76 in 2022.
2.9%
dividend yield
You are getting paid while you wait, and past dividend growth was 9.0% per.
Financial health
B++
strength
- balance sheet grade B++ — above average financial health
- risk rank 3 — safer than 50% of stocks
- price stability 80 / 100
- long-term debt $395M (23% of capital)
B++ — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for RBCAA right now.
source: institutional data · return history unavailable
What just happened
beat estimates
The quarter's loudest number was $323M in revenue, while shows Q4 2024 EPS at $0.98.
Revenue grew 246% vs. prior year in the latest quarter, according to EDGAR. That sounds absurd next to a full-year 2024 EPS figure of $5.21, which tells you this bank's quarterly mix can swing hard.
$323M
revenue
$0.98
eps
34.03%
net margin
the number that mattered
$323M matters because it is 77.5% of the full-year $417M revenue base, which tells you one quarter can dominate the story here.
source: EDGAR filing and quarterly history, 2026
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What could go wrong
the #1 risk is failing to replace the earnings contribution from the sold tax refund processing business with core banking and mortgage warehouse lending.
med
the sold business leaves a real hole
tax refund processing was a $42M revenue line, or 10% of the mix shown on this page. the $6M gain from the sale is real, but it is one-time. you now have less diversification inside the earnings base.
10% of the displayed segment mix is gone unless another line grows into it
med
mortgage warehouse lending does more of the lifting now
warehouse lending produced $125M in revenue and grew 18%. that's good when mortgage activity is healthy. it also means a more cyclical business matters more when the bank just got narrower.
30% of the displayed mix comes from the faster-moving lending segment
med
kentucky concentration cuts both ways
you own a bank with a Kentucky-centered franchise. local relationships help on deposits and lending. they also mean local credit stress, deposit pressure, or slower economic activity hits you more directly than it would at a national bank.
concentration risk sits inside the core franchise rather than off to the side
low
low institutional ownership can cut liquidity
only 24.37% of shares are institutionally owned. that helps explain why the stock looks cheap. it also means fewer natural buyers show up when sentiment turns, and smaller names can gap around on less volume.
roughly three-quarters of the register sits outside institutional hands
you now own a bank where traditional banking and warehouse lending have to carry almost the entire story. if annual profit drifts away from $131.3M after the sale benefit fades, the low multiple is not an opportunity signal — it's the market being accurate.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
q1 2026 earnings report
expected april 22, 2026. this is your first cleaner look at what the bank earns without leaning on the sold business.
metric
whether net income stays near $131.3M
record profit is now the benchmark. if earnings slip well below that level, 11.1x stops looking cheap and starts looking fair.
risk
what fills the $42M gap
the sale gain is done. the open question is whether core banking or warehouse lending replaces the earnings contribution tied to the sold tax refund business.
trend
mortgage warehouse growth durability
this segment grew 18%. if that cools while the business is more concentrated, the simplified story gets less attractive fast.
Analyst rankings
earnings predictability
65 / 100
middle-of-the-pack consistency. in human-speak, analysts think you can model the business — just not with the confidence you get from a national bank.
risk rank
3
safer than about half the market. this is not a bunker stock, but it is also not a balance-sheet drama.
source: institutional data
Institutional activity
institutional ownership data for RBCAA is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$72
current price
n/a
target midpoint · n/a from current
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