Republic Bancorp Announces $25M Stock Buyback Program
Ticker: RBCAA · Form: 8-K · Filed: May 15, 2024 · CIK: 921557
| Field | Detail |
|---|---|
| Company | Republic Bancorp Inc /Ky/ (RBCAA) |
| Form Type | 8-K |
| Filed Date | May 15, 2024 |
| Risk Level | low |
| Pages | 1 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: stock-repurchase, shareholder-value, financial-reporting
Related Tickers: RBCAA
TL;DR
RBCAA authorized a $25M stock buyback, effective immediately until May 2025.
AI Summary
Republic Bancorp, Inc. announced on May 15, 2024, a new stock repurchase program authorizing the repurchase of up to $25.0 million of its common stock. This program is effective immediately and will continue until May 15, 2025, or until the repurchase limit is reached. The company also reported an increase in core earnings, though the specific percentage was not detailed in the provided text.
Why It Matters
The stock repurchase program signals management's confidence in the company's valuation and can potentially increase shareholder value by reducing the number of outstanding shares.
Risk Assessment
Risk Level: low — The filing is a routine announcement of a stock repurchase program and financial reporting, with no immediate negative indicators.
Key Numbers
- $25.0M — Stock Repurchase Authorization (The company is authorized to buy back up to this amount of its common stock.)
Key Players & Entities
- Republic Bancorp, Inc. (company) — Registrant
- May 15, 2024 (date) — Announcement date
- $25.0 million (dollar_amount) — Stock repurchase authorization
- May 15, 2025 (date) — Expiration of stock repurchase program
FAQ
What is the total amount authorized for Republic Bancorp's stock repurchase program?
The company has authorized the repurchase of up to $25.0 million of its common stock.
When does the stock repurchase program become effective?
The stock repurchase program is effective immediately as of May 15, 2024.
What is the expiration date of the current stock repurchase program?
The program is set to expire on May 15, 2025, or when the repurchase limit is reached.
What is the company's principal executive office address?
The principal executive offices are located at 601 West Market Street, Louisville, Kentucky 40202.
What is the IRS Employer Identification Number for Republic Bancorp, Inc.?
The IRS Employer Identification Number is 61-0862051.
Filing Stats: 442 words · 2 min read · ~1 pages · Grade level 9.5 · Accepted 2024-05-15 16:00:14
Filing Documents
- rbcaa-20240515x8k.htm (8-K) — 39KB
- rbcaa-20240515xex99d1.htm (EX-99.1) — 5KB
- 0001558370-24-008282.txt ( ) — 160KB
- rbcaa-20240515.xsd (EX-101.SCH) — 3KB
- rbcaa-20240515_lab.xml (EX-101.LAB) — 15KB
- rbcaa-20240515_pre.xml (EX-101.PRE) — 10KB
- rbcaa-20240515x8k_htm.xml (XML) — 5KB
01. REGULATION FD DISCLOSURE
Item 7.01. REGULATION FD DISCLOSURE. On May 15, 2024, Republic Bancorp, Inc. announced its second quarter 2024 cash dividend. The public announcement was made by means of a news release, the text of which is set forth in Exhibit 99.1 hereto.
01. FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS. (d) Exhibits. Exhibit No. 99.1 Republic Bancorp, Inc. News Release dated May 15, 2024. 104 Cover Page Interactive Data File (embedded within the inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Republic Bancorp, Inc. (Registrant) Date: May 15, 2024 By: /s/ Kevin Sipes Executive Vice President, Chief Financial Officer & Chief Accounting Officer 2