REPUBLIC BANCORP INC /KY/ 8-K

What Happened Republic Bancorp, Inc. (RBCAA) disclosed on Form 8‑K (filed Feb 24, 2026) that its subsidiary Republic Bank & Trust Company completed the sale of substantially all assets of its Republic Bank Finance (RBF) division to CAN Capital Merchant Services, Inc. on February 20, 2026. The sale followed an Asset Purchase Agreement announced Dec. 22, 2025; the purchase price equals RBF’s net book value at closing plus a fixed premium. CAN acquired approximately $81 million in loans and leases and assumed about $1 million of related liabilities. Republic expects the Bank to record a pre‑tax gain, net of broker commissions, of approximately $6 million in the first quarter of 2026. RBF was originally acquired by Republic in the March 2023 purchase of CBank.

Key Details

• Transaction closed: February 20, 2026 (Agreement announced Dec. 22, 2025).
• Assets sold: ~ $81 million in loans and leases; ~ $1 million in liabilities assumed by CAN.
• Consideration: Purchase price = net book value at closing + fixed premium.
• Accounting impact: Bank will record an estimated pre‑tax gain of ~$6 million in Q1 2026 (net of broker commissions).

Why It Matters

• The sale reduces Republic’s finance division assets and associated liabilities, shifting those loans and leases to CAN and simplifying the Bank’s balance sheet in this area.
• The expected ~$6 million pre‑tax gain is a one‑time positive impact on reported results for Q1 2026, which investors may see reflected in regulatory filings and near‑term financial results.
• This was a divestiture of an asset originally acquired with CBank in March 2023, indicating management is continuing to reshape the company’s portfolio post‑acquisition.

This Form 8‑K also contains standard forward‑looking statements and references the Company’s disclosures in its 2024 Form 10‑K for risk factors.