Republic Bancorp Announces $25M Stock Repurchase Program
Ticker: RBCAA · Form: 8-K · Filed: Nov 20, 2024 · CIK: 921557
| Field | Detail |
|---|---|
| Company | Republic Bancorp Inc /Ky/ (RBCAA) |
| Form Type | 8-K |
| Filed Date | Nov 20, 2024 |
| Risk Level | low |
| Pages | 1 |
| Reading Time | 2 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: stock-repurchase, shareholder-value, corporate-action
Related Tickers: RBCAA
TL;DR
RBCAA is buying back up to $25M in stock over the next year.
AI Summary
On November 20, 2024, Republic Bancorp, Inc. (RBCAA) announced 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 November 20, 2025, or until the repurchase limit is reached.
Why It Matters
This 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, which is a common corporate action.
Key Numbers
- $25 million — Stock Repurchase Authorization (Maximum amount the company is authorized to spend on repurchasing its own stock.)
Key Players & Entities
- Republic Bancorp, Inc. (company) — Company announcing stock repurchase
- $25 million (dollar_amount) — Maximum amount authorized for stock repurchase
- November 20, 2024 (date) — Date of the report and effective date of the repurchase program
- November 20, 2025 (date) — Expiration date of the 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 million of its common stock.
When does the stock repurchase program become effective?
The program is effective immediately as of November 20, 2024.
What is the expiration date of the stock repurchase program?
The program is set to expire on November 20, 2025, or when the repurchase limit is reached.
What type of security is Republic Bancorp repurchasing?
Republic Bancorp is repurchasing its common stock.
What is the filing date of this 8-K report?
The 8-K report was filed on November 20, 2024.
Filing Stats: 442 words · 2 min read · ~1 pages · Grade level 9.7 · Accepted 2024-11-20 16:00:17
Filing Documents
- rbcaa-20241120x8k.htm (8-K) — 39KB
- rbcaa-20241120xex99d1.htm (EX-99.1) — 5KB
- 0001558370-24-015869.txt ( ) — 161KB
- rbcaa-20241120.xsd (EX-101.SCH) — 3KB
- rbcaa-20241120_lab.xml (EX-101.LAB) — 15KB
- rbcaa-20241120_pre.xml (EX-101.PRE) — 10KB
- rbcaa-20241120x8k_htm.xml (XML) — 5KB
01. REGULATION FD DISCLOSURE
Item 7.01. REGULATION FD DISCLOSURE. On November 20, 2024, Republic Bancorp, Inc. announced its fourth 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 November 20, 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: November 20, 2024 By: /s/ Kevin Sipes Executive Vice President, Chief Financial Officer & Chief Accounting Officer 2