Republic Bancorp Announces $25M Stock Buyback
Ticker: RBCAA · Form: 8-K · Filed: Jul 19, 2024 · CIK: 921557
| Field | Detail |
|---|---|
| Company | Republic Bancorp Inc /Ky/ (RBCAA) |
| Form Type | 8-K |
| Filed Date | Jul 19, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Sentiment | bullish |
Sentiment: bullish
Topics: stock-repurchase, shareholder-value, financial-results
Related Tickers: RBCAA
TL;DR
RBCAA is buying back up to $25M in stock, effective now through next July.
AI Summary
Republic Bancorp, Inc. (RBCAA) announced on July 19, 2024, a new stock repurchase program authorizing the repurchase of up to $25 million of its common stock. This program is effective immediately and will continue until July 19, 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 does not contain information suggesting significant new risks.
Key Numbers
- $25 million — Stock Repurchase Authorization (Amount authorized for buyback program)
- July 19, 2025 — Repurchase Program Expiration (End date for the stock buyback)
Key Players & Entities
- Republic Bancorp, Inc. (company) — Registrant
- Louisville, Kentucky (location) — Principal executive offices
- $25 million (dollar_amount) — Stock repurchase program authorization
- July 19, 2024 (date) — Date of report and effective date of repurchase program
- July 19, 2025 (date) — Expiration date of 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 million of its common stock.
When is the stock repurchase program effective?
The program is effective immediately as of July 19, 2024.
What is the expiration date of the stock repurchase program?
The program will continue until July 19, 2025, or until the repurchase limit is reached.
What is the principal executive office address for Republic Bancorp, Inc.?
The principal executive offices are located at 601 West Market Street, Louisville, Kentucky 40202.
What is the company's IRS Employer Identification Number?
The IRS Employer Identification Number for Republic Bancorp, Inc. is 61-0862051.
Filing Stats: 474 words · 2 min read · ~2 pages · Grade level 9.5 · Accepted 2024-07-19 08:00:17
Filing Documents
- rbcaa-20240719x8k.htm (8-K) — 40KB
- rbcaa-20240719xex99d1.htm (EX-99.1) — 581KB
- rbcaa-20240719xex99d2.htm (EX-99.2) — 4008KB
- rbcaa-20240719xex99d2001.jpg (GRAPHIC) — 9KB
- 0001558370-24-009902.txt ( ) — 4911KB
- rbcaa-20240719.xsd (EX-101.SCH) — 3KB
- rbcaa-20240719_lab.xml (EX-101.LAB) — 15KB
- rbcaa-20240719_pre.xml (EX-101.PRE) — 10KB
- rbcaa-20240719x8k_htm.xml (XML) — 5KB
02. Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition. On July 19, 2024, Republic Bancorp, Inc. announced its results of operations for the quarter ended June 30, 2024. The public announcement was made by means of an earnings release, the text of which is set forth in Exhibit 99.1 hereto. A financial supplement to this earnings release is attached as Exhibit 99.2 hereto.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. 99.1 Republic Bancorp, Inc. Earnings Release dated July 19, 2024 . 99.2 Earnings Release Financial Supplement – Second Quarter 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: J uly 19, 2024 By: /s/ Kevin Sipes Executive Vice President, Chief Financial Officer & Chief Accounting Officer 2