Payday Loan Industry Watch Home News: Archive News: Recent News: RSS Newsfeeds News: Archive News: By State News: By Big 7 Podcasts Reviews Tips Links
About Us
Contact Us
Donate/Sponsor
Site Help
Find a Lender
Header

Republic Bancorp profits decline 28 percent, still 'solid'

July 22, 2006 - Louisville, Kentucky

Louisville's Republic Bancorp yesterday reported a 28 percent profit decline for the quarter ended June 30, primarily because of the discontinuation of the company's payday-loan business.

Excluding the payday-loan business, the bank holding company had profit of nearly $6 million, down from $6.6 million a year earlier.

"Although we did not post record earnings, we believe our results were solid and are a testament to the core banking principles that we practice," Steve Trager, Republic chief executive, said in a statement. He cited the slight difference between the short-term interest rates it pays for deposits and the long-term rates it charges for loans as pressuring profits.

The company said its loan portfolio, particularly residential real estate, has lifted banking net interest income.

Noninterest-income increases included a 24 percent increase in deposit service charges, primarily from new checking accounts.

Net income in the quarter was $6 million, or 30 cents per share.

A year earlier, the company's net was $7.9 million, or 32 cents per share.

Republic's stock closed yesterday down 12 cents at $20.18.

News Source

The Courier-Journal, Staff Writer

Related Stories - Kentucky

Return

See: Recent News | Archived News | RSS Newsfeeds | News by State
Go to PLIWatch.org home.

E-mail This Page Open a new window and send this page to a friend.
Share this page by E-mail.
Reviews Reviews page.
July 21 - WeGiveCash claimed we could get $1,500. But, after entering qualifying customer information, we were declined and then forwarded to another Web site to re-apply.
Find a Lender Find a Lender page.
Claims to lend
To residents of
With fees per $100 loaned
On the Web since
reviewed by PLIWatch
small payday loan industry watch logo
Recent RSS Newsfeeds Archive Shown by State Shown by 'Big 7'
Home News & RSS Podcasts Reviews Tips Links Find a Lender About Us Contact Us Donate / Sponsor Site Help
Terms of Use Privacy Policy Site Map copyright © 2005-2022 pliwatch.org all rights reserved Updated: Nov 22, 2022 07:57 EST