REPUBLIC BANCORP INC KY
For the period ended Dec 31, 2023. Filed Mar 14, 2024.
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FY2023 · Filed Mar 14, 2024
RBCAA$91.57-0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated balance sheets — December 31, 2023 and 2022
CONSOLIDATED BALANCE SHEET****S
DECEMBER 31,* (in thousands, except share data)*
| | | | | | | |
|---|---|---|---|---|---|---|
| | 2023 | 2022 | ||||
| | | | | | | |
| ASSETS | | | | | | |
| | | | | | | |
| Cash and cash equivalents | | $316,567 | | $313,689 | ||
| Available-for-sale debt securities, at fair value (amortized cost of $618,525 in 2023 and $663,003 in 2022, allowance for credit losses of $0 in 2023 and 2022) | | 591,313 | | 620,365 | ||
| Held-to-maturity debt securities (fair value of $76,167 in 2023 and $87,357 in 2022, allowance for credit losses of $10 in 2023 and $10 in 2022) | | 76,387 | | 87,386 | ||
| Equity securities with readily determinable fair value | | | 174 | | | 111 |
| Mortgage loans held for sale, at fair value | | 3,227 | | 1,302 | ||
| Consumer loans held for sale, at fair value | | | 7,914 | | | 4,706 |
| Consumer loans held for sale, at the lower of cost or fair value | | | 16,094 | | | 13,169 |
| Loans (loans carried at fair value of $0 in 2023 and $2 in 2022) | | 5,239,861 | | 4,515,802 | ||
| Allowance for credit losses | | (82,130) | | (70,413) | ||
| Loans, net | | 5,157,731 | | 4,445,389 | ||
| Federal Home Loan Bank stock, at cost | | 23,770 | | 9,146 | ||
| Premises and equipment, net | | 33,411 | | 31,978 | ||
| Right-of-use assets | | | 34,691 | | | 37,017 |
| Goodwill | | 40,516 | | 16,300 | ||
| Other real estate owned | | 1,370 | | 1,581 | ||
| Bank owned life insurance | | 103,916 | | 101,687 | ||
| Low-income housing tax credit investments | | | 75,055 | | | 75,324 |
| Other assets and accrued interest receivable | | 112,755 | | 76,393 | ||
| | | | | | | |
| TOTAL ASSETS | | $6,594,891 | | $5,835,543 | ||
| | | | | | | |
| LIABILITIES | | | | | | |
| | | | | | | |
| Deposits: | | | | | | |
| Noninterest-bearing | | $1,676,998 | | $1,908,768 | ||
| Interest-bearing | | 3,376,165 | | 2,629,077 | ||
| Total deposits | | 5,053,163 | | 4,537,845 | ||
| | | | | | | |
| Securities sold under agreements to repurchase and other short-term borrowings | | 97,618 | | 216,956 | ||
| Operating lease liabilities | | | 35,539 | | | 37,809 |
| Federal Home Loan Bank advances | | 380,000 | | 95,000 | ||
| Low-income housing tax credit obligations | | | 58,619 | | | 43,609 |
| Other liabilities and accrued interest payable | | 57,196 | | 47,711 | ||
| | | | | | | |
| Total liabilities | | 5,682,135 | | 4,978,930 | ||
| | | | | | | |
| Commitments and contingent liabilities (Footnote 12) | | — | | — | ||
| | | | | | | |
| STOCKHOLDERS’ EQUITY | | | | | | |
| | | | | | | |
| Preferred stock, no par value | | — | | — | ||
| Class A Common Stock, no par value, 30,000,000 shares authorized, 17,203,355 shares (2023) and 17,584,928 shares (2022) issued and outstanding; Class B Common Stock, no par value, 5,000,000 shares authorized, 2,154,562 shares (2023) and 2,159,495 shares (2022) issued and outstanding | | 4,553 | | 4,648 | ||
| Additional paid in capital | | 142,124 | | 141,694 | ||
| Retained earnings | | 786,487 | | 742,250 | ||
| Accumulated other comprehensive (loss) income | | (20,408) | | (31,979) | ||
| | | | | | | |
| Total stockholders’ equity | | 912,756 | | 856,613 | ||
| | | | | | | |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | | $6,594,891 | | $5,835,543 | ||
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