Latest news with #ROA
Yahoo
4 days ago
- Business
- Yahoo
SouthState Corp (SSB) Q2 2025 Earnings Call Highlights: Robust Loan Growth and Strategic Expansion
Loan Production: Increased by 57% from $2 billion to over $3 billion in Q2. Loan Production in Texas and Colorado: Increased by 35% with non-PCD loans growing by $200 million. Return on Assets (ROA): Adjusted for merger costs, ROA was 1.45%. Return on Tangible Common Equity (ROTCE): Nearly 20% in Q2. Pre-Provision Net Revenue (PPNR): $314 million. Earnings Per Share (EPS): $2.30. Net Interest Income: Grew by $33 million over Q1. Cost of Deposits: 1.84%, a 5-basis-point improvement from Q1. Loan Yields: 6.33%, improved 8 basis points from Q1. Non-Interest Income: $87 million, similar to Q1 levels. Non-Interest Expense (NIE): $351 million, at the low-end of guidance. Efficiency Ratio: 49.1% for Q2. Provision Expense: $7.5 million, matching 6 basis points in net charge-offs. Tangible Book Value Per Share: $51.96, up 8.5% from the previous year. Dividend Increase: 11% increase approved by the Board of Directors. Warning! GuruFocus has detected 2 Warning Sign with SSB. Release Date: July 25, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points SouthState Corp (NYSE:SSB) reported a 57% increase in loan production, growing from $2 billion to over $3 billion in the second quarter. The company successfully completed the integration of Independent Financial, enhancing its presence in Texas and Colorado, which are among the fastest-growing markets in the country. SouthState Corp (NYSE:SSB) achieved a return on assets of 1.45% and a return on tangible common equity of nearly 20%, adjusted for merger costs. The company increased its dividend by 11%, reflecting confidence in its earnings growth and capital levels. SouthState Corp (NYSE:SSB) reported strong employee engagement, ranking in the top 10% of financial institutions in America according to employee surveys. Negative Points Loan growth stalled initially due to economic uncertainty, despite a strong start to the year. The company faced higher-than-expected paydowns in the second quarter, which could impact future loan growth. Non-interest income remained flat compared to the previous quarter, with a slight decline in mortgage revenue. The company had to adjust its scenario weightings more pessimistically due to economic uncertainties, impacting reserve levels. SouthState Corp (NYSE:SSB) anticipates higher incremental deposit costs as it continues to grow loans, which could pressure margins. Q & A Highlights Q: Can you provide an outlook for the net interest margin (NIM) and its potential expansion in the coming quarters? A: Stephen Young, Chief Strategy Officer, explained that the net interest margin was strong at 4.02% for the quarter, exceeding previous guidance of 3.80% to 3.90%. The improvement was due to better-than-expected loan coupons, securities, and deposit costs. Looking forward, the NIM is expected to remain between 3.80% and 3.90% for the rest of the year, with potential for an increase in 2026 as the legacy SouthState loan book continues to reprice upwards. Q: What is the outlook for loan growth, particularly in terms of origination volume and organic growth rates? A: John Corbett, CEO, indicated that the company is guiding for mid-single-digit loan growth for the remainder of the year, consistent with the second quarter's performance. The loan pipeline increased significantly, suggesting potential for higher growth rates if the yield curve becomes more favorable. The company is optimistic about moving towards mid- to upper-single-digit growth next year. Q: How are deposit costs expected to trend, and what factors are influencing these costs? A: Stephen Young noted that deposit costs improved to 1.84% this quarter, better than anticipated. However, as loan growth continues, incremental deposit costs are expected to rise slightly, with forecasts suggesting a range of 1.85% to 1.90% over the next few quarters. This increase is attributed to the need to fund loan growth with higher-rate deposits. Q: Can you discuss the company's interest rate sensitivity and how potential rate cuts might impact the net interest margin? A: Stephen Young stated that the company expects a 1- to 2-basis-point improvement in the margin for every 25-basis-point rate cut by the Fed. This is due to the composition of the loan portfolio and deposit base, with a significant portion of loans being floating rate and deposits having a high beta to rate changes. Q: What is the company's approach to capital allocation, particularly regarding dividends and share buybacks? A: John Corbett highlighted that the company increased its dividend by 11% due to strong earnings growth. The company is also considering share buybacks, as it believes its stock is undervalued. Additionally, the focus remains on supporting organic growth and recruiting talent, particularly in Texas and Colorado. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-07-2025
- Business
- Yahoo
Independent Bank Corp (INDB) Q2 2025 Earnings Call Highlights: Strong Loan Growth and Strategic ...
Net Income: $51.1 million for Q2 2025. Diluted EPS: $1.20 for Q2 2025. Return on Assets (ROA): 1.04% for Q2 2025. Return on Average Common Equity: 6.68% for Q2 2025. Return on Average Tangible Common Equity: 9.89% for Q2 2025. Adjusted Operating Net Income: $53.5 million, excluding merger expenses. Adjusted Diluted EPS: $1.25, excluding merger expenses. Net Interest Margin (NIM): 3.37% for Q2 2025. Deposit Growth: Non-time deposits up 3.6% year over year. Cost of Deposits: 1.54% for Q2 2025. Commercial & Industrial (C&I) Loan Growth: Up 3.4% in Q2 2025. Non-Performing Assets: Down 35% from Q1 2025. Tangible Book Value Per Share: Increased by $0.99 during Q2 2025. Assets Under Administration (AUA): Grew by 4% to $7.4 billion in Q2 2025. Investment Management Revenues: Increased 1.4% from Q1 2025 and nearly 4% from Q2 2024. Stock Buyback: Announced $150 million stock buyback plan. Release Date: July 18, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Independent Bank Corp (NASDAQ:INDB) reported better-than-expected net interest margin (NIM) performance for the second quarter. The company achieved solid commercial and industrial (C&I) loan growth of 3.4% during the quarter. There was a significant reduction in non-performing assets, down 35% from the first quarter. The acquisition of Enterprise Bank was completed successfully, with no branch closures or strategic mismatches. A $150 million stock buyback was announced, reflecting confidence in the company's financial position. Negative Points Higher expenses partly offset the positive financial performance in the second quarter. There is continued runoff in the commercial real estate (CRE) portfolio, impacting loan growth. Economic uncertainty, including the impact of tariffs and federal government actions, is causing customers to pause expansion plans. A significant non-performing office-related loan deal fell through and is being remarketed for sale. The CRE concentration is expected to rise temporarily due to the Enterprise acquisition, with efforts needed to reduce it back to target levels. Q & A Highlights Q: Where were new loan originations during the quarter, and how are competitive dynamics impacting loan pricing and demand? A: Jeffrey Tengel, CEO: We've seen good loan originations across most segments, with a conservative approach to our CRE portfolio. The competitive landscape remains challenging, especially in the C&I portfolio, with many banks interested in growth. Even in the commercial real estate space, some banks are becoming more aggressive. Mark Ruggiero, CFO: On the commercial side, second-quarter closings were in the high-sixes yield range, while the consumer book was in the mid-sixes. Q: Your small business lending continues to be a bright spot. Why have you seen so much success there, and do you expect it to continue? A: Jeffrey Tengel, CEO: We expect it to continue due to our experienced Rockland Trust bankers and a centralized underwriting unit that allows quick loan processing. This combination makes us more nimble than competitors. Q: Can you provide guidance on the third-quarter margin and the impact of potential Fed cuts? A: Mark Ruggiero, CFO: We expect the third-quarter margin to be in the mid-360s. If the Fed cuts rates, we are well-positioned to neutralize the impact on assets and deposits, maintaining margin expansion as long as the longer end of the curve stays elevated. Q: Are you seeing the worst behind for credit, similar to other New England banks? A: Jeffrey Tengel, CEO: It's hard to tell as it is property-specific. While we have made progress, we are not ready to say we are out of the woods. We continue to work constructively with borrowers, but challenges remain. Q: Can you share details on the large loan modification made this quarter? A: Mark Ruggiero, CFO: The large syndicated Downtown Boston loan was restructured into a Note A and Note B structure, with no cash payments until mid-2026. This allows the sponsor to invest in lease-up and tenant improvements, with expectations to return to performing status once cash flow improves. Q: What is your current appetite for M&A? A: Jeffrey Tengel, CEO: M&A is not a priority right now. We are focused on integrating Enterprise Bank, completing a major core conversion, and demonstrating organic growth while reducing office exposure. Q: How do you view the competitive pressures on deposits and their impact on NIM outlook? A: Mark Ruggiero, CFO: The NIM outlook is primarily driven by asset repricing. While competitive pressures on deposits remain, our focus on operating accounts helps maintain stable deposit costs. Margin benefits will mainly come from asset repricing. Q: Can you provide a pro forma CET1 ratio expectation? A: Mark Ruggiero, CFO: With current assumptions, including the CECL double count, we expect the pro forma CET1 ratio to be around 12.5%. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
18-07-2025
- Business
- Yahoo
Republic Bancorp Reports a 25% Increase in Second Quarter Net Income
LOUISVILLE, Ky., July 18, 2025--(BUSINESS WIRE)--Republic Bancorp, Inc. ("Republic" or the "Company") reported second quarter 2025 net income and Diluted Earnings per Class A Common Share ("Diluted EPS") of $31.5 million and $1.61 per share, representing increases of 25% and 24%, over the $25.2 million and $1.30 per share reported for the second quarter of 2024. As a result, the Company achieved a return on average assets ("ROA") and a return on average equity ("ROE") of 1.79% and 11.96% for the second quarter of 2025. Logan Pichel, President & CEO of Republic Bank & Trust Company commented, "We are pleased to report strong second quarter operating results, highlighted by (1) solid earnings metrics, (2) Core Bank balance sheet expansion, (3) robust capital levels and solid liquidity, and most importantly, (4) continued favorably low loan charge-offs within our Core Bank. Our second quarter results benefited from our diversified earnings platform, with all five of our reporting segments posting strong results for the quarter. Within our Core Bank, our strategic pricing discipline continued to produce results – driving increased asset yields and cost of funds moderation. As a result, we achieved solid Core Bank Net Interest Margin ("NIM") expansion during the quarter, a feat that we are extremely proud of in a challenging interest rate environment. In addition to the strong financial results for the quarter, we also introduced our new branding initiative, tag line and marketing campaign during June that illustrates our unyielding commitment to our clients, Company, associates, and the communities we proudly serve. Republic Bank. Time to Thrive.™ perfectly encapsulates our mission, underscoring the importance of the community relationships the Bank has established, nurtured, and helped thrive since its founding," Pichel concluded. The following table highlights Republic's key metrics for the three and six months ended June 30, 2025, and 2024. Additional financial details, including segment-level data, are provided in the financial supplement to this release. The attached digital version of this release includes the financial supplement as an appendix. The financial supplement may also be found as Exhibit 99.2 of the Company's Form 8-K filed with the SEC on July 18, 2025. Total Company Financial Performance Highlights Total Company Financial Performance Highlights Three Months Ended Jun. 30, $ % Six Months Ended Jun. 30, $ % (dollars in thousands, except per share data) 2025 2024 Change Change 2025 2024 Change Change Income Before Income Tax Expense $ 40,390 $ 32,105 $ 8,285 26 % $ 100,352 $ 70,804 $ 29,548 42 % Net Income 31,484 25,206 6,278 25 78,752 55,812 22,940 41 Diluted EPS 1.61 1.30 0.31 24 4.03 2.87 1.16 40 Return on Average Assets ("ROA") 1.79 % 1.50 % NA 19 2.21 % 1.61 % NA 37 Return on Average Equity ("ROE") 11.96 10.57 NA 13 15.28 11.90 NA 28 NA – Not applicable Results of Operations for the Second Quarter of 2025 Compared to the Second Quarter of 2024 Core Bank(1) Net income for the Core Bank was $18.7 million for the second quarter of 2025, a $3.7 million, or 25%, increase over the $15.0 million earned for the second quarter of 2024. As discussed in more detail below, a solid increase in net interest income combined with a modest Provision in both periods drove the quarter-over-quarter net income growth. Net Interest Income – Core Bank net interest income was $59.9 million for the second quarter of 2025, a $7.1 million, or 13%, increase over the $52.8 million achieved during the second quarter of 2024. The rise in net interest income for the quarter was driven primarily by a meaningful increase in the Core Bank's NIM. Overall, the Core Bank's NIM rose from 3.46% during the second quarter of 2024 to 3.72% during the second quarter of 2025 benefiting from a notable decrease in the Core Bank's cost of deposits, further complemented by an increase in Core Bank's interest-earning asset yield. Specific items of note impacting the Core Bank's change in net interest income and NIM between the second quarter of 2025 and the second quarter of 2024 were as follows: Interest-Earning Assets Average outstanding Warehouse balances increased $110 million, or 24%, from $457 million during the second quarter of 2024 to $567 million for the second quarter of 2025. Average committed Warehouse lines increased from $940 million to $995 million during these same periods, while higher demand caused average usage rates for Warehouse lines to increase from 49% during the second quarter of 2024 to 57% for the second quarter of 2025. Traditional Bank average loans declined from $4.62 billion with a weighted-average yield of 5.57% during the second quarter of 2024 to $4.59 billion with a weighted average yield of 5.69% during the second quarter of 2025. The comparison of average loans for the Traditional Bank was negatively impacted by the sale of residential real estate loans during the second quarter of 2024 that were previously held for investment. Average interest-earning cash was $623 million with a weighted-average yield of 4.45% during the second quarter of 2025 compared to $393 million with a weighted-average yield of 5.46% for the second quarter of 2024. In addition, average investments totaled $686 million with a weighted-average yield of 3.71% during the second quarter of 2025 compared to $670 million with a weighted-average yield of 3.09% for the second quarter of 2024. In general, the Company strategically deployed a higher percentage of its proceeds from deposit growth over the past year into interest-earning cash. Funding Liabilities (Deposits and Borrowings) As it relates to the Core Bank's decrease in interest expense and cost of interest-bearing liabilities: The weighted-average cost of total interest-bearing deposits decreased from 2.79% during the second quarter of 2024 to 2.34% for the second quarter of 2025, while average interest-bearing deposit balances grew $224 million, or 6%, for the same periods. Included within this growth in interest-bearing deposits was a $280 million net increase in the average balances for business and consumer money market accounts, which generally pay premium rates. The increase in money market balances was partially offset by an $85 million decrease in the average balance of third-party listing service deposits. The average balance of FHLB borrowings increased from $306 million for the second quarter of 2024 to $370 million for the second quarter of 2025, while the weighted-average cost of these borrowings increased from 4.29% to 4.35% for the same time periods. Average noninterest-bearing deposits decreased $29 million from the second quarter of 2024 to the second quarter of 2025. The decline in noninterest-bearing deposits is an ongoing trend for banks, in general, dating back to the fourth quarter of 2022, as the overall interest rate environment highlighted by an inverted yield curve, combined with the competition for deposits, continued to make premium-rate interest-bearing checking and savings deposits a more attractive alternative for consumer and business clients. The following tables present by reportable segment the overall changes in the Core Bank's net interest income, net interest margin, as well as average and period-end loan balances: Net Interest Income Net Interest Margin (dollars in thousands) Three Months Ended Jun. 30, Three Months Ended Jun. 30, Reportable Segment 2025 2024 Change 2025 2024 Change Traditional Banking $ 56,380 $ 49,915 $ 6,465 3.84 % 3.53 % 0.31 % Warehouse Lending 3,549 2,914 635 2.51 2.57 (0.06 ) Total Core Bank $ 59,929 $ 52,829 $ 7,100 3.72 3.46 0.26 Average Loan Balances Period-End Loan Balances (dollars in thousands) Three Months Ended Jun. 30, Jun. 30, Jun. 30, Reportable Segment 2025 2024 $ Change % Change 2025 2024 $ Change % Change Traditional Banking $ 4,587,342 $ 4,622,655 $ (35,313 ) (1 ) % $ 4,582,152 $ 4,589,167 $ (7,015 ) (0 ) % Warehouse Lending 566,707 456,908 109,799 24 671,773 549,011 122,762 22 Total Core Bank $ 5,154,049 $ 5,079,563 $ 74,486 1 $ 5,253,925 $ 5,138,178 $ 115,747 2 Provision for Expected Credit Losses – The Core Bank's Provision(2) was a net charge of $772,000 for the second quarter of 2025 compared to a net charge of $1.1 million for the second quarter of 2024. The net charge of $772,000 for the second quarter of 2025 was driven by the following: The Traditional Bank recorded a net charge to the Provision of $517,000 during the second quarter of 2025 related to a change in loan mix toward loans with higher formula reserve requirements in addition to $313,000 in net charge-offs. While loan balances at the Traditional Bank increased only $16 million during the second quarter, growth occurred in categories such as construction and land development, with higher loan loss reserve requirements. Warehouse recorded a net charge to the Provision of $255,000 resulting from general formula reserves applied to a $102 million increase in the outstanding Warehouse period-end balances during the second quarter of 2025. The net charge of $1.1 million during the second quarter of 2024 was driven by the following: The Traditional Bank recorded a net charge to the Provision of $915,000 during the second quarter of 2024 substantially related to general formula reserves in addition to $232,000 in net charge-offs. While loan balances at the Traditional Bank increased only $16 million during the second quarter, the segment continued to experience a change in loan mix, growing in categories with higher loan loss reserve requirements. The Core Bank recorded a net charge to the Provision of $214,000 resulting from general formula reserves applied to an $86 million increase in outstanding Warehouse balances during the quarter. As a percentage of total loans, the Core Bank's Allowance(2) decreased 3 basis points from June 30, 2024, to June 30, 2025. The table below provides a view of the Company's percentage of Allowance-to-total-loans by reportable segment. As of Jun. 30, 2025 As of Jun. 30, 2024 Year-over-Year Change (dollars in thousands) Allowance Allowance Allowance Reportable Segment Gross Loans Allowance to Loans Gross Loans Allowance to Loans to Loans % Change Traditional Bank $ 4,582,152 $ 59,055 1.29 % $ 4,589,167 $ 59,865 1.30 % (0.01 ) % (1 ) % Warehouse Lending 671,773 1,676 0.25 549,011 1,370 0.25 — — Total Core Bank 5,253,925 60,731 1.16 5,138,178 61,235 1.19 (0.03 ) (3 ) Tax Refund Solutions 95 — — 92 — — — — Republic Credit Solutions 119,000 21,029 17.67 126,000 19,452 15.44 2.23 14 Total Republic Processing Group 119,095 21,029 17.66 126,092 19,452 15.43 2.23 14 Total Company $ 5,373,020 $ 81,760 1.52 % $ 5,264,270 $ 80,687 1.53 % (0.01 ) % (1 ) % Allowance for Credit Losses on Loans Roll-Forward Three Months Ended June 30, 2025 2024 (dollars in thousands) Beginning Charge- Ending Beginning Charge- Ending Reportable Segment Balance Provision offs Recoveries Balance Balance Provision offs Recoveries Balance Traditional Bank $ 58,851 $ 517 $ (470 ) $ 157 $ 59,055 $ 59,176 $ 921 $ (332 ) $ 100 $ 59,865 Warehouse Lending 1,421 255 — — 1,676 1,156 214 — — 1,370 Total Core Bank 60,272 772 (470 ) 157 60,731 60,332 1,135 (332 ) 100 61,235 Tax Refund Solutions 25,981 (3,932 ) (25,059 ) 3,010 — 30,069 (1,182 ) (32,693 ) 3,806 — Republic Credit Solutions 20,050 4,983 (4,384 ) 380 21,029 18,301 5,196 (4,315 ) 270 19,452 Total Republic Processing Group 46,031 1,051 (29,443 ) 3,390 21,029 48,370 4,014 (37,008 ) 4,076 19,452 Total Company $ 106,303 $ 1,823 $ (29,913 ) $ 3,547 $ 81,760 $ 108,702 $ 5,149 $ (37,340 ) $ 4,176 $ 80,687 The table below presents the Core Bank's credit quality metrics: Quarters Ended: Years Ended: Jun. 30, Jun. 30, Dec. 31, Dec. 31, Dec. 31, Core Banking Credit Quality Ratios 2025 2024 2024 2023 2022 Nonperforming loans to total loans 0.41 % 0.39 % 0.44 % 0.39 % 0.37 % Nonperforming assets to total loans (including OREO) 0.43 0.41 0.46 0.41 0.40 Delinquent loans* to total loans 0.19 0.18 0.20 0.16 0.14 Net charge-offs to average loans 0.02 0.02 0.05 0.01 0.00 (Quarterly rates annualized) OREO = Other Real Estate Owned *Loans 30-days-or-more past due at the time the second contractual payment is past due. Noninterest Income – Core Bank noninterest income increased by $409,000 from $10.1 million in the second quarter of 2024 to $10.5 million for the second quarter of 2025. The drivers of this increase were as follows: Mortgage Banking income increased $284,000 from the second quarter of 2024 to the second quarter of 2025, as the Bank experienced a modest period-over-period improvement in pricing received on fixed rate loans sold into the secondary market. Other income increased $281,000 for the quarter and was driven primarily by a $328,000 net gain on sale of the Bank's consumer credit card portfolio which was completed during the second quarter of 2025. Noninterest Expense – The Core Bank's noninterest expenses were $45.6 million for the second quarter of 2025, an increase of $2.9 million over the second quarter of 2024. Notable line-item variances within the noninterest expense category included: Salaries and employee benefits increased by a combined $1.2 million, or 5%, driven by a $691,000 increase in estimated bonus-related expenses and a $524,000 increase in health insurance claims. The larger estimated bonus-related expenses for the second quarter of 2025 were due to an increased probability of a larger bonus payout for the year based on the Company's strong operating results. Technology expenses increased $1.0 million, or 16%, over the second quarter of 2024. The increase in Technology expense was driven by enhanced security and new ancillary systems, including additional costs resulting from the transition to a new call center management system. Management expects to incur a net benefit in technology and communication costs in the future as a result of the new call center management system. Republic Processing Group(3) RPG reported net income of $12.8 million for the second quarter of 2025, a $2.6 million, or 25%, increase over the $10.2 million reported for the second quarter of 2024. RPG's performance for the second quarter of 2025 compared to the second quarter of 2024, by operating segment, was as follows: Tax Refund Solutions TRS recorded net income of $3.3 million during the second quarter of 2025 compared to net income of $3.1 million for the second quarter of 2024. The overall increase in TRS net income for the quarter was driven by a $3.9 million net credit to the Provision, as net charge-offs for Refund Advances ("RAs") during the quarter were favorably lower than the Company's preliminary estimated loan loss reserves as of March 31, 2025. The positive benefit TRS received from a lower Provision was partially offset by a $1.2 million decrease in Net Refund Transfer ("RT") fees, as well as a $560,000 yield enhancement payment received during the second quarter of 2024, which was eliminated for 2025. The lower Net RT Fees collected was attributed to the decline in the number of tax refunds processed during the second quarter of 2025 versus the second quarter of 2024 and a greater percentage of the RTs received and processed during 2025 occurring in the first quarter. Republic Payment Solutions Net income at RPS was $2.4 million for the second quarter of 2025, a $342,000 increase from the second quarter of 2024. The increase in net income at RPS was primarily the result of the favorable impact of no revenue-share being recorded during the second quarter of 2025 compared to $1.3 million recorded during the second quarter of 2024. Partially offsetting the positive benefit of the change in revenue share, RPS earned a lower yield of 4.28% for its $350 million in average prepaid program balances for the second quarter of 2025 compared to a yield of 5.03% for the $360 million in average prepaid card balances for the second quarter of 2024. The lower yield was driven by a decrease in the Federal Funds Target Rate of 100 basis points from the second quarter of 2024 to the second quarter of 2025. Republic Credit Solutions Net income at RCS increased $2.0 million, or 40% from $5.0 million for the second quarter of 2024 to $7.0 million for the second quarter of 2025. The increase in RCS net income was primarily due to growth in profitability of one of its Line-of-Credit ("LOC") products, which had an increase in net income of $1.9 million from the second quarter of 2024 to the second quarter of 2025. The rise in net income for this LOC product was driven primarily by $388,000 period-over-period increase in net interest income, a $436,000 favorable decline in Provision, and a $1.7 million favorable decline in marketing expenses. The favorable decline in Marketing expenses included a $763,000 reimbursement for a prior period billing dispute. Republic Bancorp, Inc. (the "Company") is the parent company of Republic Bank & Trust Company (the "Bank"). The Bank currently has 47 banking centers in communities within five metropolitan statistical areas ("MSAs") across five states: 22 banking centers located within the Louisville MSA in Louisville, Prospect, Shelbyville, and Shepherdsville in Kentucky, and Floyds Knobs, Jeffersonville, and New Albany in Indiana; six banking centers within the Lexington MSA in Georgetown and Lexington in Kentucky; eight banking centers within the Cincinnati MSA in Cincinnati and West Chester in Ohio, and Bellevue, Covington, Crestview Hills, and Florence in Kentucky; seven banking centers within the Tampa MSA in Largo, New Port Richey, St. Petersburg, Seminole, and Tampa in Florida; and four banking centers within the Nashville MSA in Franklin, Murfreesboro, Nashville and Spring Hill, Tennessee. In addition, Republic Bank Finance has one loan production office in St. Louis, Missouri. The Bank offers online banking at The Company is headquartered in Louisville, Kentucky, and as of June 30, 2025, had approximately $7.0 billion in total assets. The Company's Class A Common Stock is listed under the symbol "RBCAA" on the NASDAQ Global Select Market. Republic Bank. Time to Thrive.™ Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements in the preceding paragraphs are based on our current expectations and assumptions regarding our business, the future impact to our balance sheet and income statement resulting from changes in interest rates, the yield curve, the ability to develop products and strategies in order to meet the Company's long-term strategic goals, the ability of the Company to achieve savings from its new call center management system; and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by forward-looking statements. We caution you therefore against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Actual results could differ materially based upon factors disclosed from time to time in the Company's filings with the U.S. Securities and Exchange Commission, including those factors set forth as "Risk Factors" in the Company's Annual Report on Form 10-K for the period ended December 31, 2024. The Company undertakes no obligation to update any forward-looking statements, except as required by applicable law. Footnotes: (1) "Core Bank" or "Core Banking" operations consist of the Traditional Banking and Warehouse Lending segments. (2) Provision – Provision for expected credit loss expense Allowance – Allowance for credit losses (3) Republic Processing Group operations consist of the Tax Refund Solutions, Republic Payment Solutions, and Republic Credit Solutions segments. NM – Not meaningful NA – Not applicable View source version on Contacts Republic Bancorp, SipesExecutive Vice President & Chief Financial Officer(502) 560-8628 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The Hill
18-04-2025
- Health
- The Hill
These are the top workplace fears for U.S. employees right now
At the start of the year, a survey from workplace platform Modern Health identified that a huge 75 percent of the American workforce said they were experiencing some form of low mood. Unsurprisingly, politics and current events are the key drivers of U.S. workers' worries. Workers' mental health is taking a beating as a result, with 74 percent saying they want mental-health resources specifically addressing global political turmoil. For many employees, things are as bad as they've ever been. Almost half of the survey respondents said life was easier during the COVID-19 pandemic than it is now. 4 jobs hiring across the east coast Executive Director, ROA, Washington D.C. Director of Policy – North America, Ellen MacArthur Foundation, Washington D.C. or New York City Senior Campaigner (17-Month Fixed Term), Amnesty International USA, New York City / Washington D.C. Director of Government Affairs, Blueprint Biosecurity, Washington D.C. 'American employees are struggling with their mental health, with global political turmoil and current events taking a particularly dire toll, and it's detrimental to how employees are showing up in the workplace,' says Alyson Watson, founder, and CEO of Modern Health. Those factors are bad enough, but another piece of research identifies that a majority of Americans are also concerned about the prospect of losing their job this year. Job losses loom Another study, conducted by My Perfect Resume, outlines growing fears among workers. Eighty-one percent are afraid they'll lose their job in 2025, and 20 percent of those are 'much more worried' about finding themselves unemployed in 2025 than they were a year ago. Adding to that are fears that finding a new job won't be easy, with 57 percent expecting that finding a new position will be as difficult or harder than it was in 2024. Even more worries are weighing hard on workers' minds. Ninety-two percent are concerned about a recession this year, and 33 percent believe the overall labor market will worsen. Burnout is on the rise with workers' saying that increased workloads (29 percent), and lack of work-life balance (23 percent), are the significant contributing factors. For those who have already been hit by job cuts this year, former president Joe Biden's recent comments at the national conference of Advocates, Counselors and Representatives for the Disabled (ACRD) in Chicago, may have hit home. Biden hit out at cuts at the Social Security Administration and said a 'hatchet' had been taken to the organization. 'Already we can see the effects, for example, thousands of people who use the Social Security website every single day to check on their benefits and submit their claims,' he said. 'But now, the technology division of the Social Security administration has been cut in half. And so the website's crashing. People can't sign onto their accounts. What do you think it does?' Remote work disappearing American workers are also concerned about the erosion of remote and hybrid working. Eighty-eight percent of respondents to My Perfect Resume's study said they predict more companies will require employees to return to the office this year. While the most recent report from WFH Research, which monitors working from home before and since the start of the pandemic, found that these days, working from home is most common in the finance, tech, and professional and business services sectors. It also identified that 13 percent of full-time employees are now fully remote, 61 percent are full-time on site, and 26 percent are working in a hybrid manner. It is clear that as a result of waves of return to office mandates, fewer workers than before are able to enjoy a completely remote setup. However, some light has emerged at the end of the tunnel for workers at the Food and Drug Administration, for example. Just weeks after workers there were ordered back into the office, and were met with a range of issues like limited parking and makeshift office spaces, the agency has had a change of heart. It will now allow certain staff to work remotely, such as its review staff and supervisors. In general however, jobs are trending away from offering remote working. LinkedIn statistics show that just 8 percent of jobs were remote as of December 2024. That's down from 18 percent in early 2022. One outlier has emerged here, however: high paying, in-demand positions are still more likely to be offered for remote working. Career site Ladders found that 10.4 percent of roles that pay $250,000 or more were advertised as remote in the third quarter of 2024. The takeaway is that if you've got skills that are in demand in the labor market, you've still got negotiating power to work the way that suits you.
Yahoo
11-04-2025
- Business
- Yahoo
Will Trump's tariffs affect U.S. jobs?
On again, off again: the spectre of the potential economic fallout of tariffs has worried Americans since President Trump's inaugural address, when he proposed to 'tariff and tax foreign countries to enrich our citizens'. Global tariffs were announced, amended or rescinded across February and March, with a number going into effect, for example, new tariffs on all steel and aluminum imports went into effect mid-March. Most recently, the President has rowed back on a package of steep tariffs he intended to levy on dozens of the country's trading partners. Executive Director, ROA, Washington Director of Policy – North America, Ellen MacArthur Foundation, Washington D.C. or New York City Senior Campaigner (17-Month Fixed Term), Amnesty International USA, New York City / Washington D.C. Legislative Director, Council of Large Public Housing Authorities, Washington D.C. Director of Government Affairs, Blueprint Biosecurity, Washington D.C. On April 9th, he said that nearly all of his reciprocal tariffs would be paused for 90 days. Additionally, he announced that he may consider exempting some U.S. companies altogether. That was welcome news, but regardless, the period of uncertainty that has been fostered by tariff announcements has sent shockwaves through the U.S. and wider global economies. Tariff announcements triggered the worst two-day loss in United States stock market history. Over one two-day period alone, $6.6 trillion in value was wiped out. Additionally, the S&P 500, an index tracking the performance of the largest publicly-traded companies in the U.S, suffered its biggest loss since its creation in the 1950s. Reuters says that it has been 'the most intense episode of financial market volatility since the early days of the COVID-19 pandemic.' Even as April 9th's reversal brought sighs of relief, and lacklustre markets quickly rallied, fears of a recession, and job losses are still top of mind. LinkedIn news says worker confidence is lower than it was in spring of 2020, while data from the Philly Fed's January 2025 Labor, Income, Finances, and Expectations (LIFE) Survey shows that 30 percent of workers said they were concerned about their employer's ability to stay in business. Younger and older workers are more likely to be concerned. Employees aged 18 to 35, and those aged 56 to 65 are more worried about losing their jobs. The most recent U.S. Bureau of Labor Statistics report was released at the start of April. It has some better news in that it indicates that total nonfarm payroll rose by 228,000 in March. However, economists say the picture doesn't look quite as positive when viewed up close. For one, healthcare and social assistance accounted for a large portion of total jobs; 34 percent of March's numbers. 'At the surface level, it seems like a stable and resilient labor market. However, a closer examination of the data reveals that employers are exercising caution across nearly all sectors,' says Ger Doyle, the U.S. country manager at ManpowerGroup. Cory Stahle, who is an economist at Indeed's Hiring Lab, also offered sobering analysis in a statement. 'The residual confidence and optimism that helped buoy the labor market through the first quarter reversed virtually overnight after this week's announcements, and there is likely no going back,' he said. 'The velocity with which these policy changes are now happening is so fast that many employers will find it challenging to find the stability needed to maintain business as usual.' Stahle also says that 'prime-age labor force participation rate and employment-population ratio both appear to have reached a ceiling, suggesting labor supply issues could soon become a challenge for the market.' The fact is that the effects of tariffs don't fall equally on all households and demographics. A 2018 study by the U.S. The International Trade Commission found that tariffs disproportionately fall on both low-income groups and women. This is because less well-off consumers tend to spend a bigger portion of their income on necessary goods. As a result, tariffs act almost as an income tax on these cohorts. Women, too, may bear a disproportionate burden of the effects of tariffs. In particular, single-parent families are 90 percent more likely to be headed by females than males. These families also tend to spend about 40 percent of their income buying goods, which increases their exposure to the effects of tariffs. Uncertainty is not good for the labor market. It's likely that companies will bed-in until this period of fluctuation ends, and job creation will stall. Right now, Manpower's Ger Doyle notes that the labor market may be 'locked in place'. He also pointed out that while U.S. business and organizations are focused on preserving the status quo, this could all change. And that, he said, could put layoffs back on the agenda. Ready to buck the trend and get your job search underway? Browse thousands of jobs on The Hill Job Board Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
