LOUISVILLE, Ky.—As part of a planned succession, Republic Bank & Trust Co. announces that Logan Pichel, currently president of Republic, will add the role of bank CEO to his responsibilities on Oct. 1, 2021.
Pichel was elected to the bank’s board and the board of the bank’s parent company, Republic Bancorp, as a director on September 15, 2021.
Steve Trager will transition from the role of bank chair and CEO to the position of executive chair of both the bank and the company and retain the position of company CEO, continuing to lead both boards and work closely with Pichel and the senior management team.
Scott Trager continues as vice chair of the bank and vice chair and president of the company, which has $6.2 billion in assets and is headquartered in Louisville.
These changes are designed to ensure a smooth transition continuity of leadership for associates, a focus on delivering high quality service to bank customers, strong financial performance for shareholders, and a continued commitment to the communities Republic serves.
Pichel’s “leadership and influence has enhanced every aspect of the bank’s culture and operations since joining the Republic team as president 15 months ago,” Steve Trager said. “I am excited for the next phase in the growth of Republic as I continue to work closely with him in his new role, and with senior management, as we enable our associates, our clients, and the communities we serve to thrive.”
Republic Bank has grown from its roots as a small bank in Shelbyville, Ky., to become the largest bank based in the commonwealth. Pichel’s appointment to CEO comes when Republic’s performance is extremely strong; 2021 second quarter net income was up 51% over the second quarter of 2020, and the core bank credit metrics continue to place it among the most safe and sound financial institutions in the country.
“What Steve and Scott Trager have done for the bank, and what the Trager family has done for our communities, are models for anyone who wants to make an impact,” said Pichel, who joined Republic in 2020 from Regions Bank, one of the nation’s largest consumer and commercial banks. “I’m so grateful to be able to work with Steve and the entire executive team as we continue to grow the bank and the culture of caring they have built – caring for the bank and its clients and associates and caring for the communities it serves. I’m also looking forward to my new role on the boards, working with Steve and our fellow directors as we help guide Republic’s future.”
Republic Bancorp Inc. is the parent of Republic Bank & Trust Co., which has 42 full-service banking centers throughout five states: 28 in eight Kentucky communities; three in Southern Indiana; seven in six Florida communities; two in Tennessee; and two Ohio. It offers internet banking at republicbank.com.
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