News Article | April 20, 2017
LOUISVILLE, Ky.--(BUSINESS WIRE)--Republic Bancorp, Inc. (NASDAQ: RBCAA), headquartered in Louisville, Kentucky, is the holding company of Republic Bank & Trust Company (the “Bank”). Republic Bancorp, Inc. (“Republic” or the “Company”) is pleased to report first quarter net income of $20.0 million, a 13% increase over the first quarter of 2016, resulting in Diluted Earnings per Class A Common Share of $0.96. Return on average assets (“ROA”) and return on average equity (“ROE”) were 1.65% and 13.12%, respectively, for the first quarter of 2017. Steve Trager, Republic’s Chairman and Chief Executive Officer, commented: “I am very excited to see the solid growth in our overall net income for the quarter, as we have made, and continue to make, significant investments in people and technology in order to advance our long-term strategic initiatives. As is typically the case during the first quarter of each year, the Tax Refund Solutions (“TRS”) division of our Republic Processing Group (“RPG”) made a proportionately significant contribution to net income for the quarter, as we completed the bulk of our tax season for 2017. In addition, the Republic Credit Solutions (“RCS”) division of RPG had another strong quarter, as well, contributing $1.3 million to RPG’s net income for the quarter. “In addition to the solid net income at RPG, first quarter 2017 net income within our Warehouse Lending (“Warehouse”) segment grew 74% over the first quarter of 2016, driven by a significant year-over-year increase in average outstanding Warehouse loan balances combined with a higher net interest margin. The strong first quarter for the Warehouse segment helped to drive a 5% increase in the overall net income in our Core Banking operations, which also includes the results of our Traditional Banking and Mortgage Banking business segments. While overall net income within our Traditional Banking segment was slightly lower for the first quarter due primarily to the significant investment in staffing and infrastructure that we’ve made over the previous 12 months, we did achieve solid growth in net interest income, continued low loan losses and a solid increase in average loans and deposits for the quarter, as compared to the first quarter of 2016.” The following table highlights Republic’s financial performance for the first quarter of 2017 compared to the same period in 2016: Results of Operations for the First Quarter of 2017 Compared to the First Quarter of 2016 Core Bank(1) – Net income from Core Banking was $8.5 million for the first quarter of 2017, an increase of $439,000 over the first quarter of 2016. As previously discussed, Core Banking noninterest expenses were impacted by several strategic initiatives during the first quarter of 2017. The long-term goal of these initiatives is to geographically expand and grow the Company’s loan and deposit client base, enhance client service through expanded hours and delivery channels, diversify the Company’s product mix, and to create greater operating efficiencies. Significant costs for some of the Company’s more notable strategic investments made over the previous 12 months include the following: In addition to the launched initiatives above, the Company also has plans for the following during the remainder of 2017: Net interest income at the Core Bank increased to $36.6 million during the first quarter of 2017, a $5.3 million, or 17%, increase over the first quarter of 2016. The increase in net interest income was primarily driven by a $386 million, or 12%, year-over-year increase in the Core Bank’s quarterly average loans from the first quarter of 2016 to the first quarter of 2017. The strong growth in average loans outstanding was further supplemented by an increase of 21 basis points in the Core Bank’s net interest margin over the first quarter of 2016. The overall change in the Core Bank’s net interest income, as well as average and period-end loan balances by origination channel, is presented below: The following factors were the primary drivers of the changes in the Core Bank’s average loan balances and net interest income by origination channel for the first quarter of 2017, as compared to the first quarter of 2016: The Core Bank’s credit quality metrics remained favorable, as indicated by the table below: Noninterest income for the Core Bank was $7.7 million during the first quarter of 2017 compared to $7.5 million for the first quarter of 2016. Impacting the Core Bank’s noninterest income comparisons between the first quarters of 2017 and 2016 were the following: Core Bank noninterest expenses increased $5.3 million, or 20%, during the first quarter of 2017 compared to the first quarter of 2016. The increase was primarily driven by the following: The RPG segment reported net income of $11.5 million for the first quarter of 2017 compared to $9.7 million for the same period in 2016. The higher first quarter 2017 net income was primarily driven by growth within the RCS division of RPG and growth of the Easy Advance (“EA”) loan product at TRS. Within the RCS division, net income increased to $1.3 million for the first quarter of 2017 compared to $63,000 for the same period in 2016. RCS’s net income benefitted from continued growth of its short-term consumer loan products. Sales of such loans reached $126 million during the first quarter of 2017, a 187% increase over the same period in 2016, while loans retained on balance sheet increased from $9 million at March 31, 2016 to $32 million at March 31, 2017. In addition, RCS benefitted during the first quarter of 2017 from the final revenue payment of $427,000 from a program sponsor related to a first-year volume guarantee for its short-term credit product. Within the TRS division, net income increased $611,000, or 6%, to $10.5 million for the first quarter of 2017 compared to $9.9 million for the same period in 2016. TRS net EA revenues (EA fees, less estimated loan loss provisions for EAs) increased $4.0 million for the first quarter of 2017 compared to the same period in 2016 driven by a $205 million increase in EAs originated from period to period. As of March 31, 2017, the Company had reserved through its loan loss provision approximately 2.62% of total originations for estimated losses on the EA product based on expectations derived from prior period experience together with the current period’s underwriting model. The growth in net revenue at TRS associated with the EA helped to offset a 10% reduction in revenue from the Refund Transfer (“RT”) products, as RT volume decreased 9% from the first quarter of 2016 to the first quarter of 2017. The decrease in RT volume was directionally consistent with a reported decline in e-filings at the Internal Revenue Service. “I’m excited about the good growth in the top-line revenue at our Core Bank and our net interest margin continues to trend in a positive direction, as well. We remain on track making meaningful in-roads with many of our strategic initiatives, which we believe will pay dividends for our clients, our associates, and our shareholders over the long term. With that in mind, we will continue to be vigilant for opportunities that are in the best interest of our shareholders, as we pursue market-best talent, technology, new products and services, and prudent acquisitions that will advance our long-term goals,” concluded Steve Trager. Republic Bancorp, Inc. (the “Company”) is the parent company of Republic Bank & Trust Company (the “Bank”). The Bank currently has 45 full-service banking centers and one loan production office throughout five states: 33 banking centers in 12 Kentucky communities - Covington, Crestwood, Elizabethtown, Florence, Frankfort, Georgetown, Independence, Lexington, Louisville, Owensboro, Shelbyville and Shepherdsville; three banking centers in southern Indiana – Floyds Knobs, Jeffersonville and New Albany; six banking centers in five Florida communities – Largo, Port Richey, St. Petersburg, Seminole, Temple Terrace; two banking centers in Tennessee – Cool Springs (Franklin) and Green Hills (Nashville) and one loan production office in Brentwood (Nashville); and one banking center in Norwood (Cincinnati), Ohio. The Bank offers internet banking at www.republicbank.com. The Bank also offers separately-branded, nation-wide digital banking at www.mymemorybank.com. The Company has $4.7 billion in assets and is headquartered in Louisville, Kentucky. The Company’s Class A Common Stock is listed under the symbol “RBCAA” on the NASDAQ Global Select Market. 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 ability to develop products and strategies in order to meet the Company’s long-term strategic goals, the economy 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 the 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, 2016. The Company undertakes no obligation to update any forward-looking statements. These forward-looking statements are made only as of the date of this release, and the Company undertakes no obligation to release revisions to these forward-looking statements to reflect events or conditions after the date of this release. Reportable segments are determined by the type of products and services offered and the level of information provided to the chief operating decision maker, who uses such information to review performance of various components of the business (such as banking centers and business units), which are then aggregated if operating performance, products/services, and clients are similar. As of March 31, 2017, the Company was divided into four distinct operating segments: Traditional Banking, Warehouse Lending (“Warehouse”), Mortgage Banking and Republic Processing Group (“RPG”). Management considers the first three segments to collectively constitute “Core Bank” or “Core Banking” activities. Correspondent Lending operations and the Company’s national branchless banking platform, MemoryBank, are considered part of Traditional Banking. The RPG segment includes the following divisions: Tax Refund Solutions (“TRS”), Republic Credit Solutions (“RCS”) and Republic Payment Solutions (“RPS”). TRS generates the majority of RPG’s income, with the relatively smaller divisions of RPG, RCS and RPS, considered immaterial for separate and independent segment reporting. All divisions of the RPG segment operate through the Bank. The nature of segment operations and the primary drivers of net revenues by reportable segment are provided below: The accounting policies used for Republic’s reportable segments are the same as those described in the summary of significant accounting policies in the Company’s 2016 Annual Report on Form 10-K. Segment performance is evaluated using operating income. Goodwill is allocated to the Traditional Banking segment. Income taxes are generally allocated based on income before income tax expense unless specific segment allocations can be reasonably made. Transactions among reportable segments are made at carrying value.
News Article | February 15, 2017
Crye-Leike, the largest real estate company in Tennessee and the Mid-South, recently inducted sales associates into the Crye-Leike Circle of Excellence. “This is one of the highest levels of professional and personal achievement in the real estate industry,” said Eddie Ferrell, a broker at Crye-Leike Realtors. The Circle of Excellence was started by Crye-Leike in 1987 and consists of 211 sales associates within the organization who have attained this elite distinction out of its 3,100-plus sales force. Furthermore, members of the Circle of Excellence are awarded the honorary title “Vice President of Crye-Leike.” In order to receive this honor, each real estate professional must meet stringent requirements of the program, showing exemplary performance in closed gross sales volume as well as in the areas of advanced education, ethics, loyalty and service to the community and the real estate profession. “In keeping with our belief that success is a journey, not a destination, we created the Circle of Excellence award to recognize those unique individuals who attain the highest level of professional development,” said Harold Crye, CEO of Crye-Leike Real Estate Services. “Simply stated, they are ‘the best of the best.’” About Eddie Ferrell, Crye-Leike Realtors Broker Eddie Ferrell specializes in East Nashville, Midtown, the Sylvan’s, The Nations, Spring Hill and all the Nashville Towers, along with representing builders in the Green Hills and Spring Hill areas. Eddie works with both buyers and sellers, and has the knowledge and experience to assist you along your real estate path. For more information, please call (931) 320-4552 or (615) 373-3456, or visit http://eddieferrell.crye-leike.com. About the NALA™ The NALA offers small and medium-sized businesses effective ways to reach customers through new media. As a single-agency source, the NALA helps businesses flourish in their local community. The NALA’s mission is to promote a business’ relevant and newsworthy events and achievements, both online and through traditional media. For media inquiries, please call 805.650.6121, ext. 361.
News Article | February 15, 2017
Crye-Leike Realtors, during its holiday donation drive that took place from October through December 2016, collected 223 pairs of shoes for Soles4Souls at its Spring Hill, 5407 Main Street, Midtown, 1819 Broadway, Suite 200, 5111 Marylandway Brentwood and Nashville offices. “We have so much to be thankful for and I am so happy there are organizations like Soles4souls to help us help others. To be able to donate gently used or new shoes and have an impact on people all over the world is too easy not to do,” said Eddie Ferrell, a broker at Crye-Leike Realtors. Soles4Souls aims is to eradicate extreme poverty by 2050. Children every day are prevented from attending school and adults are unable to work as walking becomes unbearable, which perpetuates the cycle of poverty. To date, Soles4Souls has collected and distributed more than 26 million pairs of shoes to those in need in 127 countries around the world and all 50 states in the U.S. “Shoes collected by businesses and individuals enable people in need around the world to lift themselves and their families out of poverty,” said Buddy Teaster, President and CEO of Soles4Souls. “Every single one of those pairs of shoes collected by our partners makes a difference in someone’s life.” For more information about getting involved with Soles4Souls or to become an official drop-off location, visit https://soles4souls.org/get-involved/. About Soles4Souls Soles4Souls is a not-for-profit global social enterprise committed to fighting poverty through the collection and distribution of shoes and clothing. The organization advances its anti-poverty mission by collecting new and used shoes and clothes from individuals, schools, faith-based institutions, civic organizations and corporate partners, then distributing those shoes and clothes both via direct donations to people in need and by provisioning qualified micro-enterprise programs designed to create jobs in poor and disadvantaged communities. Based in Nashville, TN, Soles4Souls is committed to the highest standards of operating and governance and holds a four-star rating with Charity Navigator. About Eddie Ferrell, Crye-Leike Realtors Broker Eddie Ferrell specializes in East Nashville, Midtown, the Sylvan’s, The Nations, Spring Hill and all the Nashville Towers, along with representing builders in the Green Hills and Spring Hill areas. Eddie works with both buyers and sellers, and has the knowledge and experience to assist you along your real estate path. For more information, please call (931) 320-4552 or (615) 373-3456, or visit http://www.eddieferrell.com About the NALA™ The NALA offers small and medium-sized businesses effective ways to reach customers through new media. As a single-agency source, the NALA helps businesses flourish in their local community. The NALA’s mission is to promote a business’ relevant and newsworthy events and achievements, both online and through traditional media. For media inquiries, please call 805.650.6121, ext. 361.
News Article | February 28, 2017
LOUISVILLE, Ky.--(BUSINESS WIRE)--Republic Bank & Trust Company (“Republic Bank” or the “Bank”) announced today the introduction of an innovative way to bank at its Harrodsburg Road, Lexington banking center with the opening of two Interactive Teller Machines (“ITMs”) located in the drive-thru lanes. These two ITMs join the previously installed ITMs in the vestibule of the Bank’s recently-opened Vine Center banking center in downtown Lexington and in the lobby of the Bank’s corporate center location in downtown Louisville. In addition, the Bank will roll-out two additional ITMs in late March that will service the drive-thru lanes of its Blankenbaker Parkway banking center in Louisville, KY. These state-of-the-art ITMs are expected to improve the client user experience while reducing transaction time. “With just one tap of the screen, our clients will be connected to a live customer service representative that is capable of assisting clients with many of the same transactions they’re used to inside a banking center lobby. This is one more example of how we continue to enhance our technology offering at every level of banking in order to enhance our client’s banking experience,” said Steve Trager, Chairman and CEO of Republic Bank. ITMs offer private, two-way audio and video interaction with a customer service representative located at a remote site who will offer a personalized one-on-one banking experience for such services as account withdrawals, check cashing, envelope-less cash and check deposits, account transfers, and loan payments. These ITMs will also allow the Harrodsburg Road and Vine Center banking centers to offer extended hours from 7:30 a.m. to 6 p.m. Monday through Friday and from 9 a.m. to 1 p.m. on Saturday. Trager added, “We are excited to be at the forefront of this customer service innovation, which will allow us to continue to serve our business and retail clients in an efficient and effective manner.” Republic Bancorp, Inc. (the “Company”) is the parent company of Republic Bank & Trust Company (the “Bank”). The Bank currently has 45 banking centers: 33 banking centers in 12 Kentucky communities - Covington, Crestwood, Elizabethtown, Florence, Frankfort, Georgetown, Independence, Lexington, Louisville, Owensboro, Shelbyville and Shepherdsville; three banking centers in southern Indiana – Floyds Knobs, Jeffersonville and New Albany; six banking centers in five Florida communities – Largo, Port Richey, St. Petersburg, Seminole, Temple Terrace; two banking centers in Tennessee – Cool Springs (Franklin) and Green Hills (Nashville); and one banking center in Norwood (Cincinnati), Ohio. The Bank offers internet banking at www.republicbank.com. The Bank also offers separately-branded, nation-wide digital banking at www.mymemorybank.com. The Company has $4.8 billion in assets and is headquartered in Louisville, Kentucky. The Company’s Class A Common Stock is listed under the symbol “RBCAA” on the NASDAQ Global Select Market.
Bia Separations D.O.O. and Green Hills | Date: 2011-08-31
A process for the purification of influenza virus or derivative thereof comprising the steps of:- providing a source having influenza virus or derivative thereof;- optionally subjecting the source to a prepurification step;- followed by at least one chromatographic step on chromatographic materials selected from the group consisting of porous particles having mean pore sizes of at least 20 nm, perfusion particles, gel-in-a-shell particles, tentacle like particles, membrane adsorbers, and monoliths;- collecting eluting influenza virus or derivatives thereof containing fractions- with the proviso that sulfuric ester of cellulose or cross-linked polysaccharides are excluded.
Bia Separations D.O.O. and Green Hills | Date: 2015-07-06
Arias A.C.,Palo Alto Research Center PARC |
MacKenzie J.D.,Green Hills |
McCulloch I.,Imperial College London |
Rivnay J.,Stanford University |
Salleo A.,Stanford University
Chemical Reviews | Year: 2010
The synthesis, processing, and device performance of polymeric semiconductors has been reported. The polysilicon TFT technology is used for active matrix organic light-emitting diode (AMOLED) as the higher carrier mobilities of polysilicon as compared to a-Si, and increased stability of polysilicon-based devices under bias stress, are more effective in AMOLED. The radio frequency (RF) wireless applications are required in large area, self-powered, or maximized range device is partially driven by the fundamental physics of the frequency regimes in which they operate. Large area, high throughput manufacturing of organic electronic roducts is most efficiently enabled by solution based, additive printing techniques. Regioregular (RR) poly(3-hexylthiophene) (P3HT) is an exemplary semiconducting polymer due to its ready availability, ease of processing from solution, and its promising electrical properties arising from a highly crystalline microstructure.
Green Hills | Date: 2012-04-19
Nucleotide sequences and fragments which code for a human endogenous retrovirus which is infectious. Fragments according to the present invention relate also to specific fragments of the sequences inserted into the vector pCR4-Topo and deposited as MERV-env, MERV-gag, MERV-prt and MERV-pol as mentioned above. Additionally, methods of using such sequences, polypeptides encoded by such sequences, antibodies directs against such sequences, and methods and compositions relating to the same are all contemplated.
Green Hills | Date: 2011-05-03
The present invention provides a pharmaceutical composition with an adjuvant based on an apathogenic virus, together with an antigen. The adjuvant has a natural or through genetical engineering no, reduced or altered expression of an endogenous interferon antagonist or endogenous immune suppressor.
Green Hills | Date: 2011-06-06
The present invention provides a method for generating negative-stranded segmented RNA viruses using linear expression constructs in the presence of helper virus which comprises at least one amino acid modification within the N-terminal cyto plasmic region of the NA protein.