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1. Company Snapshot

1.a. Company Description

Republic Bancorp, Inc., a financial holding company, provides various banking products and services in the United States.It operates in five segments: Traditional Banking, Warehouse, Mortgage Banking, Tax Refund Solutions, and Republic Credit Solutions.The company accepts demand, money market accounts, savings, individual retirement accounts, time, brokered, and other certificates of deposit.


Its loan products include residential real estate, commercial real estate, construction and land development, home improvement and home equity, secured and unsecured personal, and aircraft loans.The company also offers credit cards; title insurance and other financial products and services; and memory banking, private banking, lockbox processing, remote deposit capture, business online banking, account reconciliation, automated clearing house processing, and internet and mobile banking services.In addition, it provides short-term and revolving credit facilities to mortgage bankers; tax refund solutions, which facilitate the receipt and payment of federal and state tax refund products through third-party tax preparers and tax-preparation software providers; and general purpose reloadable prepaid cards through third party service providers.


Further, the company offers consumer credit products; and property and casualty insurance products.As of January 28, 2022, it operated 42 full-service banking centers.Republic Bancorp, Inc.


was incorporated in 1974 and is headquartered in Louisville, Kentucky.

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1.b. Last Insights on RBCAA

Republic Bancorp, Inc.'s recent performance faced challenges due to increasing competition and potential economic uncertainty. Despite beating Q3 earnings and revenue estimates with $1.52 per share, up from $1.37 per share a year ago, concerns may arise from a relatively modest 12% increase in net income. Additionally, while achieving a return on average assets (ROA) of 1.69% and return on average equity (ROE) of 10.91%, the company must navigate evolving business conditions. No recent share buyback announcements or rating changes were noted.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Republic Bancorp, Inc. $RBCAA Shares Acquired by American Century Companies Inc.

Dec -03

Source: defenseworld.net

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Republic Bancorp (RBCAA) Upgraded to Buy: Here's Why

Nov -27

Source: zacks.com

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Comparing Pinnacle Financial Partners (NASDAQ:PNFP) and Republic Bancorp (NASDAQ:RBCAA)

Nov -25

Source: defenseworld.net

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Republic Bancorp (RBCAA) Surpasses Q3 Earnings and Revenue Estimates

Oct -17

Source: zacks.com

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Republic Bancorp Reports a 12% Increase in Third Quarter Net Income

Oct -17

Source: businesswire.com

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Republic Bancorp, Inc. Among Top 25 in Bank Director's Annual Ranking

Sep -16

Source: businesswire.com

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Republic Bancorp to Participate in the Raymond James 2025 U.S. Bank Conference

Aug -28

Source: businesswire.com

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Is the Options Market Predicting a Spike in Republic Bancorp Stock?

Aug -14

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (3.68%)

6. Segments

Traditional Banking

Expected Growth: 3.5%

Republic Bancorp's 3.5% growth in traditional banking is driven by a strong loan portfolio, increasing deposits, and a solid net interest margin. Additionally, the bank's focus on commercial and industrial lending, as well as its expansion into new markets, contribute to its growth. Furthermore, the bank's efficient cost structure and effective risk management practices also support its growth momentum.

Republic Credit Solutions

Expected Growth: 3.8%

Republic Credit Solutions' 3.8% growth is driven by increasing demand for credit repair services, strategic partnerships with financial institutions, and expansion into new markets. Additionally, the company's proprietary credit scoring model and AI-powered credit monitoring tools have improved customer acquisition and retention rates, contributing to the segment's growth.

Tax Refund Solutions

Expected Growth: 4.2%

Republic Bancorp's Tax Refund Solutions segment growth of 4.2% is driven by increasing demand for refund-based financial products, strategic partnerships with tax preparation firms, and expansion into new markets. Additionally, the company's investment in digital platforms and process efficiencies has improved customer experience, contributing to the segment's growth.

Republic Payment Solutions

Expected Growth: 4.5%

Republic Payment Solutions' 4.5% growth is driven by increasing adoption of digital payment systems, strategic partnerships, and expansion into new markets. Additionally, the company's focus on providing innovative payment solutions, such as mobile payments and contactless transactions, has contributed to its growth. Furthermore, Republic Bancorp's strong financial position and investment in technology have enabled the company to capitalize on emerging trends in the payment industry.

Warehouse Lending

Expected Growth: 3.2%

Republic Bancorp's 3.2% growth in Warehouse Lending is driven by increasing demand for mortgage originations, expansion into new markets, and strategic partnerships with mortgage bankers. Additionally, the company's efficient funding model, robust risk management, and competitive pricing have contributed to its growth momentum.

Mortgage Banking

Expected Growth: 3.9%

Republic Bancorp's 3.9% growth in Mortgage Banking is driven by increasing demand for housing, low interest rates, and strategic expansion into new markets. Additionally, the company's focus on digital transformation and process efficiencies has improved customer experience, leading to increased loan originations and higher revenue. Strong relationships with real estate partners and a diversified product portfolio also contribute to the segment's growth.

7. Detailed Products

Personal Banking

Republic Bancorp, Inc. offers a range of personal banking services, including checking and savings accounts, credit cards, loans, and investment products.

Business Banking

Republic Bancorp, Inc. provides business banking services, including commercial loans, cash management, and treasury management solutions.

Mortgage Banking

Republic Bancorp, Inc. offers mortgage banking services, including residential and commercial mortgage loans, refinancing, and construction loans.

Wealth Management

Republic Bancorp, Inc. provides wealth management services, including investment management, trust services, and financial planning.

Insurance Services

Republic Bancorp, Inc. offers insurance services, including life insurance, property insurance, and casualty insurance.

8. Republic Bancorp, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Republic Bancorp, Inc. operates in a highly competitive industry, but the threat of substitutes is mitigated by the complexity and regulatory requirements of banking services.

Bargaining Power Of Customers

Republic Bancorp, Inc. has a diverse customer base, and no single customer has significant bargaining power.

Bargaining Power Of Suppliers

Republic Bancorp, Inc. has a diverse supplier base, and no single supplier has significant bargaining power.

Threat Of New Entrants

The banking industry is highly regulated, and new entrants face significant barriers to entry, including high capital requirements and regulatory hurdles.

Intensity Of Rivalry

The banking industry is highly competitive, with many established players competing for market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 34.35%
Debt Cost 6.79%
Equity Weight 65.65%
Equity Cost 6.79%
WACC 6.79%
Leverage 52.33%

11. Quality Control: Republic Bancorp, Inc. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Republic Bancorp

A-Score: 7.0/10

Value: 6.4

Growth: 7.0

Quality: 7.9

Yield: 6.0

Momentum: 6.5

Volatility: 8.3

1-Year Total Return ->

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Stock-Card
Bank7

A-Score: 6.8/10

Value: 6.7

Growth: 8.7

Quality: 6.2

Yield: 5.0

Momentum: 7.0

Volatility: 7.0

1-Year Total Return ->

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Stock-Card
1st Source

A-Score: 6.4/10

Value: 6.6

Growth: 6.3

Quality: 7.1

Yield: 5.0

Momentum: 5.0

Volatility: 8.3

1-Year Total Return ->

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Stock-Card
NBH

A-Score: 6.1/10

Value: 6.6

Growth: 6.9

Quality: 6.1

Yield: 6.0

Momentum: 3.5

Volatility: 7.3

1-Year Total Return ->

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Stock-Card
MetroCity Bankshares

A-Score: 5.9/10

Value: 4.5

Growth: 7.1

Quality: 6.8

Yield: 6.0

Momentum: 3.5

Volatility: 7.7

1-Year Total Return ->

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Stock-Card
Evans Bancorp

A-Score: 5.0/10

Value: 4.7

Growth: 1.9

Quality: 6.0

Yield: 6.0

Momentum: 5.0

Volatility: 6.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

69.07$

Current Price

69.07$

Potential

-0.00%

Expected Cash-Flows