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News Article | April 20, 2017
Site: www.businesswire.com

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.


LOUISVILLE, Ky.--(BUSINESS WIRE)--Republic Bancorp, Inc. (“Republic”) (NASDAQ: RBCAA), parent company of Republic Bank & Trust Company, today announced a 5% increase in the Company’s second quarter cash dividends. The quarterly cash dividend of $0.22 per share of Class A Common Stock and $0.20 per share on Class B Common Stock will be payable July 21, 2017 to shareholders of record as of June 16, 2017. The increased cash dividend results in an annualized dividend yield for the Class A Common stock of 2.49% based upon the stock’s closing price on May 16, 2017. “On the heels of another successful quarter that reflected a 13% year-over-year growth in earnings, it is a pleasure to again reward our loyal shareholders with this 18th consecutive annual increase in our Company’s quarterly cash dividend. We continue to prudently execute our strategic initiatives to position Republic to be one of the highest performing banks in the United States, and we are excited to share our success with our shareholders through a higher dividend,” commented Steve Trager, Chairman and CEO for Republic. 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.


News Article | May 26, 2017
Site: www.prweb.com

“When the Stars Lead Home”: a poignant story of loss, determination, and perseverance. “When the Stars Lead Home” is the creation of published author Laura Weigel Douglas, an avid reader who lives in the Pacific Northwest with her husband, daughter, two dogs, and a cat in a house that sometimes feels like Green Hills Adventure Camp. She couldn’t be more grateful. Twelve-year old Tizzy could not believe how quickly things could fall apart. Last year her only concern had been defending her title as San Juan County’s All-Around Rodeo Cowgirl. Now, she is living with two aunts she barely knows and trying to convince them to keep the summer camp where she grew up, Green Hills Adventure Camp, open for business. With luck on her side and more than a little determination, Tizzy will discover that she is capable of more than she ever dreamt and that sometimes, when life changes direction, one must create their own path to find their way home again. Published by Christian Faith Publishing, Laura Weigel Douglas‘s new book is an inspiring and engaging story for young independent readers. View a synopsis of “When the Stars Lead Home” on YouTube. Readers can purchase“When the Stars Lead Home” at traditional brick and mortar bookstores, or online at Amazon.com, Apple iTunes store, Kobo or Barnes and Noble. For additional information or inquiries about “When the Stars Lead Home”, contact the Christian Faith Publishing media department at 866-554-0919.


News Article | May 8, 2017
Site: www.businesswire.com

LOUISVILLE, Ky.--(BUSINESS WIRE)--Republic Bank was recognized at the 13th Annual Best Places to Work in Kentucky awards ceremony, held on Wednesday, April 26th at the Hyatt Regency Lexington. Republic Bank was ranked 15th in the large sized company category. Nearly 1,300 people attended the awards ceremony and helped celebrate the 100 Kentucky companies that were recognized for their commitment to focus, measure and move their workplace environments toward excellence. Best Places to Work identifies and recognizes Kentucky’s best employers. The Kentucky Society for Human Resource Management and the Kentucky Chamber of Commerce host the Best Places to Work initiative. The selection process is managed by Best Companies Group and is based on an assessment of the company’s employee policies and procedures and the results of an internal employee survey. “I am extremely proud of Republic Bank’s designation as one of the best places to work in Kentucky,” said Republic Bank Chairman and CEO, Steve Trager. “Every success we have achieved is the result of the hard work, care and dedication of our associates and I hold myself accountable to ensure that our success is shared with all associates in ways that create opportunity and positive experiences for them and their families.” 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.


Patent
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.


Patent
Bia Separations D.O.O. and Green Hills | Date: 2015-07-06

A process for the purification of influenza virus or derivative thereof comprising the steps of:


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.


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.


Patent
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.


Patent
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.

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