For the fourth time this year, Republic Bancorp has been named as one of the best performing banks in the U.S. Most recently, American Banker published their first quarter 2010 ranking of the nation’s most efficient bank holding companies in their August 18, 2010 edition. These financial institutions were ranked by their efficiency ratio [noninterest expense divided by (total income minus interest expense)] as compiled by SNL Financial LC, the premier provider of financial data, news and analytics for six business sectors including ‘banks and thrifts’.
Included on this prestigious list of top-performing financial institutions is locally-based Republic Bancorp, parent of Republic Bank & Trust Company and Republic Bank, (ranked #7 with a first quarter efficiency ratio of 37.36) and the top-rated financial institution in the market areas that they serve – Kentucky, southern Indiana, greater Tampa and southern Ohio markets.
Earlier this year, Sandler O’Neil & Partners released its annual rankings of the top 150 financial institutions in Bank Director magazine and ranked Republic #5 based on total assets, profitability, capital adequacy and asset quality. Then in May, American Bankers Association’s Banking Journal published their annual ranking of the nation’s top financial institutions and ranked Republic Bancorp #9 based on 2009 Return on Average Total Equity (ROAE) as compiled by SNL Financial LC. And earlier this month, US Banker published their annual ranking of the nation’s mid-tier financial institutions and ranked Republic Bancorp #19 based on 3-year average Return on Equity (ROAE) as compiled by SNL Financial LC.
Steve Trager, Republic Bank’s Chairman and CEO commented, “We’re certainly honored to not only have been included on these lists, but especially to have been ranked within ‘the best banks in the country’. This is a huge honor for our bank, our associates, our directors, shareholders, and for the Commonwealth of Kentucky. We are proud to be a community bank, and as such, we are dedicated to serving the citizens, companies, and non-profit groups which, combined, create the unique ‘home town’ fabric in each geographic area we serve.”
Republic’s credo is really a promise – one which has guided its growth and success over the years: “We were here for you yesterday. We are here for you today. We will be here for you tomorrow. ®”