Louisville-based Republic Bancorp, the parent company of Republic Bank & Trust Company and Republic Bank, has been listed No. 5 in Bank Director Magazine’s listing of America’s Top 150 Banks with assets of $3 billion or more.
The annual ranking is compiled by Sandler O’Neil and Partners, a New York-based investment banking firm that specializes in the financial services industry. Republic was ranked No. 10 on last year’s list.
The rankings are based on total assets, profitability, capital adequacy and asset quality. A formula applied to score all eligible banks produces a final score number of each institution.
In an overview of the 2009 analysis, the Bank Performance Scorecard article noted: “In what’s been one of the toughest years in banking, institutions that played it fiscally conservative ended up ‘batting a thousand’ in our ratings. Nearly half of the nation’s top banks lost money over the 12-month period that ended June 30, 2009. Yet, despite the upheaval of bank balance sheets across America, there are many financial institutions still going strong – especially those ones that adhere to a basic formula for successful banking: lend money to low-risk borrowers, keep a lid on expenses, and dominate local market share. Once again, ‘plain vanilla banking’ won out over the growth of ‘growth at any cost’ mentality.”
Republic operates 35 banking centers in 13 Kentucky communities and also has banking centers in southern Indiana, Florida and Ohio. In addition, the company operates Tax Refund Solutions, a nationwide tax refund loan and check provider.