LOUISVILLE, Ky.--(BUSINESS WIRE)--Nov. 20, 2003--The Board of
Directors of Republic Bancorp, Inc. (NASDAQ:RBCAA), holding company
for Republic Bank & Trust Company and Republic Bank & Trust Company of
Indiana, has declared a special cash dividend of $0.253 per share on
Class A Common Stock and $0.23 per share on Class B Common Stock,
payable December 17, 2003 to shareholders of record as of December 2,
2003. The dividend will total $4.3 million.
"This special dividend is a way of rewarding our loyal
shareholders for their support that contributed to the successful year
we have experienced," said Steve Trager, President and CEO. "The
timing of this special dividend allows our shareholders to benefit
from the current, reduced federal tax rate on dividends, while
allowing us to maintain a strong capital position for our future
goals. We remain humble in our success, yet unwavering in providing
our associates, clients and shareholders with a Company that has a
solid foundation for the future," Trager concluded.
Republic's net income for the first nine months of the year grew
to $23.6 million, a 44% increase over the same period of 2002. Third
quarter net income was $6.3 million compared to $4.7 million for the
same period of 2002, a 34% increase. In addition to the special
dividend, the Company's board of directors also declared a quarterly
dividend of $0.066 per share for Class A shareholders and $0.06 per
share for Class B shareholders. These dividends are payable on January
16, 2004 to shareholders of record as of December 19, 2003.
Neighborhood Banking. Republic Bancorp, Inc. has 31 banking
centers and is the parent company of Republic Bank & Trust Company,
with 28 banking centers in 7 Kentucky communities - Bowling Green,
Elizabethtown, Frankfort, Lexington, Louisville, Owensboro and
Shelbyville, with banking centers in Louisville and Georgetown under
construction; Republic Bank & Trust Company of Indiana with 2 banking
centers in Clarksville and New Albany, Indiana, with one banking
center under construction in Jeffersonville; and Refunds Now, a
nationwide tax refund loan and check provider. Republic Bank offers
Internet banking at www.republicbank.com. Republic Bank was the
recipient of the 2002 Community Partnership Award from the Federal
Home Loan Bank of Cincinnati. Republic Bancorp, Inc. has $2 billion in
assets and $1 billion in trust assets under custody and management.
Republic Bancorp, Inc., headquartered in Louisville, KY, is traded on
the NASDAQ (RBCAA).
CONTACT: Republic Bancorp, Inc., Louisville
Kevin Sipes, 502-584-3600
www.republicbank.com
SOURCE: Republic Bancorp, Inc.