Republic Bancorp has been named by Bank Director magazine as one of the nation’s top financial institutions in the country.
The Louisville-based bank came in at No. 10 on the magazine’s annual listing of the nation’s top 150 financial institutions with assets of $3 billion or more. Republic was the only financial institution in the commonwealth to be included in the rankings.
To compile the listing, companies were assessed in the following categories: total assets, profitability, capital adequacy and asset quality.
Analyzing this year’s group of banks, the publication noted, “There is not much flash and glitz among this year’s crop of top-performing U.S. banks and thrifts. But, given all that’s occurred in the last six months, maybe slow and steady really is the name of the game. In fact, over a recent 12-month period, as the credit and financial markets came unhinged and some of the country’s best known depository financial institutions teetered on the brink of collapse, ‘steady at the helm’ was the governing mantra for the highest rated banks.”
Republic Bank Chairman and CEO Steve Trager noted that the criteria for the listing, which focused on tight underwriting and internal controls, resulted in the exclusion of all of the nation’s “megabanks” from the listings.
Republic Bancorp Inc. has 45 banking centers in Kentucky, Indiana, Ohio and Florida. Republic also operates Tax Refund Solutions, a nationwide tax refund loan and check provider.
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