Republic Bancorp sells RBF assets, $6 million gain

Rhea-AI Filing Summary

Republic Bancorp, Inc. announced that its subsidiary, Republic Bank & Trust Company, has completed the sale of substantially all assets of its Republic Bank Finance division to CAN Capital Merchant Services, Inc. The buyer acquired approximately $81 million in loans and leases and assumed about $1 million of related liabilities.

The purchase price was based on the net book value of Republic Bank Finance’s assets and liabilities at closing, plus a fixed premium under a previously announced Asset Purchase Agreement. As a result of this transaction, the bank will record a pre-tax gain, net of broker commissions, of approximately $6 million during the first quarter of 2026.

Insights

Banking sector analyst

Republic monetizes RBF portfolio, realizing a modest one-time gain.

Republic Bancorp has exited most of its Republic Bank Finance division by selling loans and leases to CAN Capital Merchant Services. CAN acquired approximately $81 million in loans and leases and assumed about $1 million in related liabilities, with pricing tied to net book value plus a fixed premium.

The structure suggests a balance-sheet cleanup rather than a distressed sale, as consideration is based on carrying values with an added premium. The deal generates a pre-tax gain, net of broker commissions, of roughly $6 million, which will be recognized in the first quarter of 2026.

This gain is a one-time income item, not recurring revenue, and its importance depends on Republic’s overall earnings scale, which is not detailed here. Future filings may clarify how the loss of Republic Bank Finance’s assets and any ongoing relationship with CAN affect interest income and fee revenue after the first quarter of 2026.

8-K Event Classification

Item 7.01 — Regulation FD Disclosure

1 item

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What transaction did Republic Bancorp (RBCAA) complete involving Republic Bank Finance?

Republic Bancorp’s subsidiary completed the sale of substantially all assets of its Republic Bank Finance division to CAN Capital Merchant Services, Inc. The deal transfers the RBF loan and lease portfolio and related liabilities under an Asset Purchase Agreement originally announced in December 2025.

How large is the loan and lease portfolio sold by Republic Bancorp (RBCAA)?

The buyer acquired approximately $81 million in loans and leases from Republic Bank Finance. CAN Capital Merchant Services, Inc. also assumed about $1 million of related liabilities as part of the same transaction, under terms tied to net book value plus a fixed premium at closing.

What financial gain will Republic Bancorp (RBCAA) record from the RBF asset sale?

Republic Bancorp expects to record a pre-tax gain of approximately $6 million, net of broker commissions, from the Republic Bank Finance asset sale. This gain will be recognized during the first quarter of 2026, providing a one-time boost to the company’s quarterly earnings results.

How was the purchase price determined in Republic Bancorp’s (RBCAA) RBF transaction?

The Asset Purchase Agreement set the aggregate purchase price equal to the net book value of Republic Bank Finance’s assets and liabilities at closing, plus a fixed premium. This structure links consideration to carried values while providing additional value above book for the transferred portfolio.

Who is the buyer of Republic Bancorp’s (RBCAA) Republic Bank Finance assets?

CAN Capital Merchant Services, Inc. is the buyer of substantially all Republic Bank Finance assets. Under the Asset Purchase Agreement, CAN acquired around $81 million in loans and leases and assumed roughly $1 million of related liabilities from Republic Bank & Trust Company, Republic Bancorp’s banking subsidiary.

When will Republic Bancorp (RBCAA) recognize the gain from the Republic Bank Finance sale?

Republic Bancorp plans to record the pre-tax gain from the Republic Bank Finance asset sale in the first quarter of 2026. The company states this gain, approximately $6 million net of broker commissions, will be reflected in its results for that quarterly reporting period.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/24/2026 - 04:30 PM Learn about SEC filing dates

0000921557false00009215572026-02-202026-02-20

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

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CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): February 20, 2026

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REPUBLIC BANCORP, INC.

(Exact name of registrant as specified in its charter)

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Kentucky	0-24649	61-0862051
(State or other jurisdiction	(Commission File Number)	(I.R.S. Employer Identification No.)
of incorporation)	​	​

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601 West Market Street, Louisville, Kentucky	40202
(Address of principal executive offices)	(zip code)

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Registrant’s telephone number, including area code: (502) 584-3600

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NOT APPLICABLE
(Former Name or former address, if changed since last report)

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

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☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Securities registered pursuant to Section 12(b) of the Act:

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Title of each class	Trading Symbol	Name of each exchange on which registered
Class A Common	RBCAA	The Nasdaq Stock Market

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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Emerging growth company ☐

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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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Item 7.01. REGULATION FD DISCLOSURE.

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On February 20, 2026, Republic Bancorp Inc.’s (“Republic”) wholly owned subsidiary, Republic Bank & Trust Company (the “Bank”), completed the sale of substantially all assets of its Republic Bank Finance (“RBF”) division to CAN Capital Merchant Services, Inc. (“CAN”) (the “Transaction”).

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The Transaction was completed pursuant to the terms of the Asset Purchase Agreement (the “Agreement”) announced on December 22, 2025, which provided the aggregate purchase price to be equal to the net book value of RBF’s assets and liabilities at Closing, plus a fixed premium. Under the terms of the Agreement, CAN acquired approximately $81 million in loans and leases and assumed approximately $1 million of related liabilities.

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As a result of the Transaction, the Bank will record a pre-tax gain, net of broker commissions, of approximately $6 million during the first quarter of 2026. Republic originally acquired RBF as part of its March 2023 acquisition of CBank.

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Forward-Looking Statements

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This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward-looking statements in the preceding paragraphs are based on our current expectations and assumptions regarding our business, the sale of assets, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you, therefore, against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements and other factors set forth as “Risk Factors” at Part II, Item 1A in the Company’s Form 10-K for the period ended December 31, 2024, which has been filed with the Securities and Exchange Commission and is available on Republic’s website (www.republicbank.com) and on the Securities and Exchange Commission’s website (www.sec.gov).

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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​	​	Republic Bancorp, Inc.
​	​	(Registrant)
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Date: February 24, 2026	By:	/s/ Kevin Sipes
​	​	Executive Vice President, Chief Financial Officer & Chief Accounting Officer

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Filing Exhibits & Attachments

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Other Documents

• EX-101 EX-101.SCH 2.9 KB
• EX-101 EX-101.LAB 15.0 KB
• EX-101 EX-101.PRE 10.2 KB