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LOUISVILLE, KY – Republic Bancorp Inc. (NASDAQ:RBCAA), a commercial bank headquartered in Louisville, Kentucky, with a market capitalization of $1.31 billion and a P/E ratio of 11.14, announced the results of its Annual Meeting of Shareholders held on April 24, 2025, according to a recent SEC filing. According to InvestingPro analysis, the bank maintains a "GREAT" financial health score of 3.2 out of 5. Shareholders voted to elect 15 directors to the company’s Board of Directors, approve executive compensation, adopt a new stock incentive plan, and ratify the appointment of Forvis Mazars, LLP as the independent auditor for the fiscal year ending December 31, 2025.
The election of directors resulted in all of the company’s nominees being elected to serve on the Board until the 2026 annual meeting. The votes for directors ranged from 30,120,373 to 32,030,344 in favor, with broker non-votes recorded for each director ranging from 1,464,874 to 1,464,874.
In the non-binding advisory vote on the compensation of Named Executive Officers (NEOs), a majority of shareholders approved with 34,032,662 votes in favor, 78,600 against, and 77,202 abstained. The broker non-votes tallied 1,464,874.
The Republic Bancorp, Inc. 2025 Stock Incentive Plan received shareholder approval with 31,262,085 votes for, 2,845,330 against, and 81,049 abstained, alongside 1,464,874 broker non-votes.
Lastly, the appointment of Forvis Mazars, LLP as the company’s independent registered public accounting firm for the upcoming fiscal year was ratified with an overwhelming 35,425,636 votes for, 212,777 against, and 14,926 abstained.
The press release did not disclose the percentage increase in core earnings or details about the stock repurchase program mentioned in the header of the SEC filing. However, InvestingPro data shows the company has achieved 15.04% revenue growth in the last twelve months and maintains a solid dividend yield of 2.69%. The bank has notably raised its dividend for 11 consecutive years, demonstrating consistent shareholder returns. This information, while potentially significant, adds context to the company’s financial performance.
Republic Bancorp’s SEC filing serves as the source for this report. The company operates within the state commercial banks sector under the SIC code 6022 and is incorporated in Kentucky. With a return on equity of 12% and strong financial metrics, InvestingPro offers additional insights through 7 more key tips that could help investors make informed decisions about RBCAA’s future prospects. The results of the shareholder meeting reflect the company’s ongoing governance and compensation strategies as it moves forward into the 2025 fiscal year.
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