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Get filing alertsRepublic Bancorp reports Q2 2026 net income of $32.9M, up 4% YoY on Core Bank NIM expansion
Filed July 24, 2026 · Period ending July 24, 2026 · ~2 min read
Key Changes
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Q2 2026 net income $32.9M ($1.68 diluted EPS), up 4% YoY from $31.5M ($1.61), with ROA 1.88% and ROE 11.42%. Sequential decline from Q1's $42.6M reflects seasonal Tax Refund Solutions runoff.
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR → -
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Core Bank net interest income rose $4.2M (7%) YoY to $64.1M despite 75bp Fed rate cuts; NIM expanded 30bp to 4.02% on lower funding costs and March prepayment of $220M FHLB advances at 4.57%.
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR → -
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Traditional Banking loans grew $59M in Q2, strongest quarterly growth in nearly three years, driven by relationship-based lending strategy and healthy demand across key categories.
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR → -
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Launched new Republic Payment Solutions program in June, expected to contribute over $150M of lower-cost deposits in remainder of 2026 to strengthen liquidity and improve loan-to-deposit ratio.
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR → -
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Provision for credit losses $5.2M in Q2, down from $9.8M in Q1 but up from $1.8M in Q2 2025; allowance for credit losses on loans 1.62% of total loans at June 30, 2026.
Item 2.02 — Results of Operations and Financial Condition verify on EDGAR →
Summary
Republic Bancorp delivered solid year-over-year earnings growth in Q2 2026, with net income rising 4% to $32.9 million despite a 75 basis point decline in the Federal Funds rate over the past year.
The Core Bank segment drove the performance, expanding net interest income 7% and net interest margin 30 basis points to 4.02% through disciplined deposit and loan pricing, a favorable asset mix shift, and the benefit of prepaying $220 million of higher-cost FHLB advances in March.
Traditional Banking loans grew $59 million during the quarter, the strongest quarterly growth in nearly three years, reflecting healthy demand and execution of the relationship-based lending strategy. The sequential decline from Q1's $42.6 million net income is seasonal, driven by the runoff of Tax Refund Solutions products that generate elevated loan fees and noninterest income in the first quarter. The company launched a new Republic Payment Solutions program in June expected to contribute over $150 million of lower-cost deposits in the second half of 2026, which should further strengthen liquidity and improve the loan-to-deposit ratio. The provision for credit losses of $5.2 million was down from Q1's $9.8 million but up from the prior-year quarter's $1.8 million, with the allowance for credit losses on loans at 1.62% of total loans. Book value per share rose to $58.92 from $57.78 at March 31, 2026.
Section-by-Section Diff
Event · Item 2.02 — Results of Operations and Financial Condition
Republic Bancorp announced Q2 2026 and six-month 2026 financial results via earnings release and financial supplement.
Added in current filing · verify on EDGAR →
On July 24, 2026, Republic Bancorp, Inc. announced its results of operations for the quarter and six months ended June 30, 2026.
Republic Bancorp disclosed its financial results for the second quarter and first half of 2026. The 8-K references an earnings release (Exhibit 99.1) and financial supplement (Exhibit 99.2) containing the detailed results, but the body of the filing does not provide specific financial figures.
Event · Exhibit 99.1
Added in current filing · view on EDGAR →
Despite the headwinds of a 75 basis point decline in the Federal Funds Target Rate (“FFTR”) over the past 12 months, our Core Bank’s net interest income increased $4.2 million, or 7%, compared to the second quarter of 2025. Over this same time frame, our Core Bank’s net interest margin expanded 30 basis points to a near-record 4.02%, driven by notably lower funding costs, a favorable shift in average interest-earning assets, disciplined loan and deposit pricing, and proactive balance sheet management.
Despite a 75 basis point decline in the Federal Funds Target Rate over the past 12 months, the Core Bank's net interest income increased $4.2 million, or 7%, to $64.1 million in Q2 2026 from $59.9 million in Q2 2025. The Core Bank's net interest margin expanded 30 basis points to 4.02%, driven by lower funding costs, favorable asset mix shifts, and disciplined pricing.
Event · Exhibit 99.2
Republic Bancorp reported Q2 2026 net income of $32.9M ($1.68 diluted EPS), down from $42.6M in Q1 2026, with a provision increase to $5.2M.
Added in current filing · view on EDGAR → · paraphrased
Net income $32,866 ... Income before income tax expense $42,550 ... Income tax expense $9,684
Republic Bancorp reported Q2 2026 net income of $32.9 million, down 22.8% from $42.6 million in Q1 2026. Pre-tax income was $42.6 million with a tax expense of $9.7 million. Diluted EPS for Class A Common Stock was $1.68, down from $2.18 in the prior quarter.
Added in current filing · view on EDGAR → · paraphrased
Net interest income $81,702 ... Net interest margin - Total Company 4.99% ... Net interest margin - Core Bank 4.02%
Net interest income was $81.7 million in Q2 2026, down from $90.5 million in Q1 2026. The total company net interest margin was 4.99%, down from 5.46% in Q1 2026, while the Core Bank net interest margin was 4.02%, up from 3.96% in Q1 2026. The decline in total company NII reflects lower loan fee income from seasonal Tax Refund Solutions products.
Added in current filing · view on EDGAR → · paraphrased
Total noninterest income $19,569 ... Net refund transfer fees $3,208 ... Gain on sale of Republic Bank Finance loans/leases $— ... Program fees $5,058
Noninterest income was $19.6 million in Q2 2026, down from $30.0 million in Q1 2026. The decline was driven by the absence of the $5.8 million gain on sale of Republic Bank Finance loans/leases recorded in Q1 2026, and lower net refund transfer fees of $3.2 million versus $9.5 million in Q1 2026 due to seasonality. Program fees were $5.1 million.
Added in current filing · view on EDGAR → · paraphrased
Total stockholders' equity $1,156,797 ... Book value per share (3) $58.92 ... Tangible book value per share (3) $56.44
Stockholders' equity increased to $1.16 billion at June 30, 2026, from $1.13 billion at March 31, 2026. Book value per share rose to $58.92 from $57.78, and tangible book value per share increased to $56.44 from $55.30. The company declared dividends of $0.495 per Class A share and $0.450 per Class B share.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 27, 2026 · How we verify